I hate to say it but I think it's dead sexy as-is, the second set of wings may be a bit too much and take away from how classy it looks now.
that said, I think if I was going to do an insert in an aluminum door I'd mill out a rectangular recess from behind that's maybe 1/2-2/3rds of the way
through and large enough to fully encompass the emblem, then cut the emblem shape out in the door within the rectangle and use a rectangular wood insert from behind. I'd probably leave the wood slightly thicker than necessary then sand it fully flush after it's bonded together
to really go all out you could insert the wood and trace the emblem onto the wood, then carve around the emblem on the wood so the emblems raised from the block and when inserted comes up to flush or even protrudes slightly depending on the look I wanted.
alternatively I think I'd go with quigs way of engraving out just a recessed step and then inserting the wood from the front and sanding it as flat aas you need it to be. I think if you just cut it out and edge mount it it's going to be weak and if you press on it it'll be more likely to pop out, or pop in really I guess
I love seeing stuff like this and I'm sure whatever you decide it'll look great but really it's awesome just as it is