So, I worked out how fast Miles 'Tails' Prower would fall, if he fell out of, say, a plane. Or the Death Egg.
The results were interesting. Assuming he has a drag coefficient of 1.3 (similar to a person skydiving) and a cross sectional area of about 0.3 m^2 (it's the tails, mainly), he has a terminal velocity of about 27 ms-1.
Half that of a human skydiver, mostly because he weighs so much less. (Though rolling into a ball will make him fall substantially faster).
Now, here's the fun bit. He can at least take off while carrying Sonic and Knuckles (meaning he's lifting 20+35+40 kg altogether) for a downthrust of about five times his own body weight.
This means he can apply 4g surplus upwards acceleration in addition to cancelling his own weight, putting him at being able to screech to a halt while falling - in under a second. If he can fly carrying those two for even a second, he can stop in midair from a fall of any sane height. (That is, any height he doesn't play meteor).
Chaos Energy, eh?