...I'm pretty sure their regs are a little different. However, if their regs are the same as mine, I'd like to know where I can get a shnazzy red flight suit too...
As to the basic subject of the thread, I've heard it called all kinds of things: Combat Crush (for those who have combat time), a Mach peak (for those who have been above Mach 1), Bomber Crush (self-explanatory), etc. (see all previous comments). As to who can/can't wear it, I just don't care. If, in your community, no one wears a "crush" until they've done XYZ, then don't wear it until then. If you are wearing it to be like the bomber pilots in WWII, why would you denigrate someone for that? Their emulating some of the bravest men in the history of the world!
On a related note, at Texas A&M, the Corps freshmen wear a peak in the back of their biter (when they changed the design of the hats, someone commented that it looked like a c**k biter...the name stuck, though the etymology of the word is certainly a bit obscure...). The sophomores wear their hats with a smaller peak and the juniors wear the smallest one they can get away with. Only the seniors are allowed to NOT have a peak...
...then again, Aggies have been accused of being a "backwards" school...
Gig 'em!!