Apart from correctly limiting current to the LEDs (others have written on how to do that - I use 2 LED's in series with a resistor on a 10.8 V Li battery): I would expect normal navigation lights to be very effective in flying at night, ie red/green, and anti-collision flash. The square superbright SuperLED/Piranha etc LEDs with 80-100 degree angle make it rather simple to create a fully conforming illumination with 8 LEDs for the anti-collision, and two (one 80 degree plus an narrow 20 degree forward for the red/green lights).
HTH
Marc