Sure, you can set up the plane with the receiver in it, get it all programmed into the radio and save it. At that point, you can move the receiver to another aircraft, set it up for that plane, and save that setting under a different model. When you want to switch back, simply install the receiver in a plane and go to the settings for that plane. The receiver doesn't care what plane it's in as long you make sure the model setting is correct in the radio