In flight test, real-time monitoring is an important part to ensure flight safety. To address the challenges of parallel processing and comprehensive monitoring of multiple telemetry data streams in complex flight test scenarios like multi-plane collaboration characterized by large data volumes, strong real-time requirements, and high risk levels, an overall architecture for flight monitoring oriented towards multiple telemetry data streams was constructed. An adaptive architecture-based dynamic planning and resource scheduling strategy for flight missions was designed, and a parallel processing method for multitelemetry data streams based on a stream computing framework was proposed. Additionally, a fused publish/subscribe mechanism for multi-aircraft telemetry parameter in complex flight test scenarios is established. Application results demonstrate that this system can achieve rapid reconstruction of monitoring tasks and resource scheduling, as well as parallel processing and on-demand distribution of multi-telemetry data streams, effectively meeting the real-time data processing and safety monitoring requirements for complex flight test subjects.