“Faggot” means the same thing as “fagot,” but it seems to be the preferred spelling in America.
It doesn't, in the context in which the plane was named. The NATO nomenclature was "F" for role as a fighter and two syllables for a jet aircraft.
From everything I have read on the subject, the name "Fagot" for the MIG-15 has nothing to do with homosexuality, and I have never seen the plane referred to with two "g"s in its code name.
But frankly, there are plenty of other ways we can tweak the left.