My airforce for the year of 1944 looks pretty much like the Luftwaffe of said period.
Fighters: Bf 109 G-5,-6,-14/AS (early-mid 1944), Bf 109 G-10 (late) Fw 190 A-7,-8 (and the A-8/R8 model for the Sturm tactic).
Bombers: Zero (perhaps Heinkel He177s to raid soviet union distant places)
Recon: Arado Ar 234
Night-fighter: Ju 88 G-10
Transport: I´d take the C-47
Now, I would of course move ahead and make some significant modifications:
(i) I would have virtually all bomber production cancelled even before 1944 commences.
Perhaps I would just leave He 177 units to make long range bombing raids against the USSR.
In 1944, the Germans still produced a few thousands of bombers. I´d use both the material and human resources to produce fighters, fighters, and to improve the jets...and last but not least, the number of pilots that could have gone straight into fighter training units during 1944 was very high.
Let´s also revamp the production scheme for non-combat aircraft: transports especially. Let´s also cancel all recon aircraft: I will use the Ar 234 for extremely high altitude recon missions.
(ii) With the sole expcetion of maintaining the necessary production of twin engined fighters (Ju 88 G-10 only, I would go standard, this would help optimizing my resources) to beef up the nachtjäger force, I would cancel the production of Me 410 and the Bf 110.
Although a capable machine, I see no sense in sending Me 410s against the allies in 1944.
Eeach Hornisse lost meant two guys lost.
Rough 1,300 Me 410s were produced. 2,600 engines and 2,600 pilots in 1944? No, thank you.
I´d rather have 2,600 single engined toys, and the 2,600 men that would go to fly the Me 410 manning 109s, 190s and jets.
(iii) With said first and second steps implemented, I´d do the following:
By mid 1944 my Luftwaffe sends a formation of 150 Fw 190 A-8/R8 Sturmböck with a top cover of no less than 250 Bf 109 G-6/AS or G-14/AS to deal with the massive USAAF formation of the day.
Not that modified Fw 190 for the sturm procedure could not tangle with the P-51s in a one vs one match, I´d just send a massive swarm of those beautiful 109s with the modified DB 605 tool (DB 605 AM, DB 605 ASM) to make their lives just a bit bitter and rougher.
I´d send such formation at least two times a week.
Assuming losses could be high in some battles against the boxes of B-17s, B-24s and the escorting swarms of P51s, P-47s or P-38s, the advantage of the new scheme is that I am not having pilots and airmen to serve in the Me 410s and the bombers. The bulk of my pilots are single engine fighters.
The losses inflicted to both heavy bombers and escorts on each mission with this numbers would more than enough to have the gentlemen in the high command of the USAAF asking themselves whether if they can continue waging the war in view of such losses
(iv) With the increase of single engine fighters and pilots in view of the new scheme -no bombers, no twin engined fighters of ZG 26 ZG 76- we can also provide the Wehrmacht with the proper air support for some important operations. This means, I will not have about the entire jagdwaffe in Reichsverteidigung.
I agree it was important to protect the population against the terrorist actions of the allies, but so was the Wehrmacht.
Close to the ground, I am convinced the Luftwaffe, in numbers, will keep the upper hand against anything the allies might sent.
(v) Gradually begin phasing out the 109, perhaps right after the launching of the G-10. It was not necessary to move to the next step: the excellent 109 K-4.
My aim would be to commence 1945 only with Ta152s or Fw 190 Ds, and the jets.