Source code (archive.org)
It has some crusty TCP networking that I haven't really tested much and currently the player keys are a bit wonky. It theoretically supports up to 4 players on 1 machine but you'll have to add your own keybindings in the source or play over a network.
The game starts with each player selecting their ships. in non-networking mode players "tap" in by hitting one of their keys. First, select you ship (I have yet to add all the original ships), then select your special, then select where you want to place you special. When all ships are configured the game starts. Each player has 5 lives and limited health, shields and special. Players then fly their ships around and attempt to destroy the other ships while not destroying their own. Last one alive wins.