Since an ejection would naturally cause the plane to crash.... I have a slightly different idea for an ejection.

What if you put all your radio and any expensive components in a special box that could detach in the case of an accident? and have pushrods that can be detached if this box was ejected. So then in case you had a radio failure or you lose a wing or something, you could have a single channel receiver/servo combo that ejects the radio box while the plane is going down. Maybe a button on your TX under a flip cover to operate that other channel to eject your radio!

And I guess you could put the rockets on the bottom to shoot it out, but at the same time have a chute deploy on it so that your radio comes down safely. Then you can let your airplane crash and burn with the fuel tank and no expensive electronics!

Maybe even make the unit reusable, by building planes with special pushrods that have the detachable end on them so in case you have a radio failure, a wing breaks or falls off, you're doing combat and somebody takes out your elevator and rudder, etc