First - if you are both flying, ensure you have a third person to act as a spotter and maintain airspace and ground situational awareness - the pilots will be too busy.
Plan each sequence carefully beforehand - safer and makes the most of air time.
Separation is what prevents collisions so only fly as close as you absolutely need to and no closer - sounds obvious I know but must be said.
The lead pilot should maintain a running commentary so the following pilot knows when the lead pilot is going to change speed, direction or altitude and can adapt accordingly.
Have a collision avoidance plan so you both know what to do if you're on a head on course, i.e. if you both agree to go to your respective right, you will fly away from each other and not accidentally both turn off in the same direction in the very short space of time before a collision.
Its easy to forget about battery levels when flying like this. Keep a close eye on battery levels so neither of you goes into low battery mode and heads auto home, straight into the other aircraft!
Do a mixture of shots, with the phantom stationary as well as following the inspire.
Good luck with it.