Well, that scene wasn't just a bunch of Hollywood balderdash hyped up for dramatic effect -- it was a fairly accurate representation of a major design flaw of the F-14. An interruption in the air flow coming into the engines caused the fan blades to stop pushing air through them, which in turn caused a "flameout." Jetwash could certainly cause such an interruption, so if a Soviet pilot was aware of this vulnerability and wanted to take down an F-14 pilot, he could conceivably do so by pulling the aerial equivalent of cutting him off in traffic.
Sadly, Goose from Top Gun wasn't the only casualty resulting from this: Here in the real world, Kara S. Hultgreen, the Navy's first female combat pilot cleared for carrier operations, was killed when her F-14 experienced a flameout and crashed into the ocean in 1994.
Damn. We'll understand if you need to scroll up and watch that volleyball scene again before we continue.