This actually happened on an airplane I was on back in the day on a KC-135Q. The fire light for the #2 engine came on due to a compressor stall that damaged the #1 engine shutting it down, while the Co-Pilot reached up and pulled the fire switch for the #3 engine. It was like the 3 Stooges with both pilots slapping each other’s hands to push the fire switch back in (too late cut out the #3) and then pull the #2 engine fire switch. Went from a 4 engine to 1 engine aircraft in seconds. Thank God it only happened at 90 knots or I would not be here to share.
My only engine failure as an AH-1 helicopter pilot was much less eventful. Was at a 3-foot hover making noise. Then I was on the ground and it was quiet.