Let me tell you what I know. Anyone feel free to correct me if I am wrong.
The program was designed to get pilots some duel instruction and observation more frequently that the BFR requirements. It is a volunteer program requiring X amount of flight time (or approved sim) and X amount of ground instruction.
I am currently in Phase 3 and I have done all of my Wings Training while at initial and recurrent for the Navajo and King Air.
The Feds have courses or town hall meetings at various locations that meet the requirements for the ground instruction. There is also a provision for CFI's about given duel or something.
I have seen more that one insurance application that asks what phase of the training you are in.
I'm sure that someone here will know more but this is what I know.
Wings is a safety program. Each Wings phase counts as a biennial review for the pilot. The CFIs volunteer their time for the Wings program. If they do Wings for five people over two years they can get their CFI renewal done without a CFI renewal class. Check with your FSDO.
1.) Attend an FAA approved seminar, including any of the ASF programs offered on/at AOPA website.
2.) 1 hour of take-off and landings. (With a CFI)
3.) 1 hour of maneuvers. (With a CFI)
3.) 1 hour of "Hood" work. (With a CFI)
There is a form that needs to be filled out and signed by you and the CFI and/or seminar host. Submit this to your local FSDO and wait about six weeks. You will then recieve a set of Wings and certificate for the number stage completed.
You can one complete one stage per 12 calander months, except for CFIs. Any CFI can complete the first three stages as quickly as they can, after the thrid stage you're back to one every 12 months.
Hope this helped.
There is also an AC about the program as well. (Sorry don't know the number)
Seems like I read in the AC that if the pilot is not instrument rated and current, the odd-numbered phases require 2 hours of hood work?
Also, according to my FSDO, the pilot needs to be qualified in the aircraft in which he is receiving instruction...you can't go out and do 3 hours of instruction in a straight seaplane (any instruction is good for you, ya know) if you're only land-rated.