You'll use a helper, and "attach" it to P2.
It'll start in the attack state. You'll want to code it similar to an Ultra Throw. Except the hitdef wont send P2 into a custom state, it'll just be a "normal" hit reaction.
Make the helper exit to a cool down stage and add a variable +1. Code that 2nd state's ChangeState to go back to the original attack state after the time you want. ABOVE the changestate code a destroyself and look for the Var value to equal the amount of attacks you want, but minus 1.

For the time being, use a small animation for each statedef so you can see it on screen. Use Ctrl+C to see the collision boxes.

Thats evil. 600 damage you can't block and it breaks your states every 2 seconds preventing moves and allowing your opponent to deal more damage?

Nasty. Unless you're trying for cheap in which case have at it.

you'll need to override state 40

You can't really have an attack that inflicts damage without hitstun unless you use the reversaldef glitch, which considering your coding skill level, may be a little too complex for you to attempt atm.

 Short hopping should be easier, set a command for tapping up (as opposed to holding up) and use that to send your character to an alternative jump start state that is identical to the normal jump start state, except it has less vertical velocity.

Unsafe on block, can be grabbed out of and a fair amount of end lag are not qualities I would call an incontestable move. A competent player would catch onto the move pretty fast if it's being abused and some of the more challenging AI will render it just as situational. There are a lot of specials which grant this kind of benefit and would give the player no real reason to use the move if it didn't have some added bonus that made it better than a generic special. Not to mention its damage in Smash is pretty damn high itself, so, 200 damage doesn't sound unreasonable when put into perspective of those factors.

 What me and Darkflare are saying is that you're overselling Wonderwing. It's a newb buster, but an experience player would play that move like a fiddle.

 It's a bit off topic, but it's a point I wanted to make.

 Now, did that thread I link actually help?

If the move has such a strict limitation alongside the flaws on top of that such as this (and in an environment that is less forgiving about Wonderwing's flaws than Smash), it better actually be worth the use. 200 damage sounds more reasonable tbh.

Why 70 damage though?
There are already moves that work similarly and do more damage(and don't have a use limit)

Put a poweradd in state 20 that gives a certain amount of power every tick (or, if you want longer intervals, use persistent = (how many ticks you want it to occur) whenever vel x > 0. It's not really hard at all, I feel like you're not actually doing the research because these questions are really simple things that can be figured out from reading the documentations that come with MUGWN.