This is a good question for @skaldish
But...I am not sure how much of the 'warriors go to Valhalla/Folkvangr, and the rest of you schmucks go to Hel' is a traditionally held belief and how much is a weird hybrid of the modern faux-warrior cult bullshit, the historical Odinic schema that might have been grafted on to older beliefs (1), and the Christian perspective that warped what little survived contact.
If we are going to go with that perspective, I would take it as a 'people who drink life till it's empty are gonna do the same in the after' rather than as a literal injunction to die in a formally declared war.
There is evidence that it may have been thought that most Aesir/Vanir/etc had their own halls or places (2). I have read speculation based on that for a belief that, for example, working class folks maybe end up with Thor, etc, etc.
I would also dispute the commonly held notion of Hel as a place of punishment/shittiness (I'm not saying you said that, just that I see it a lot, even in Heathen writing). After all, if Norse Wesley Crusher Baldr goes there in the stories when he dies, it's probably fine. And, as Lokeans, we are friends of the owner.
But (oh yea, another but) I am also not sure how much of the 'detailed picture of the afterlife' thing is authentic. My sense is that there is sort of a 'you live a good meaningful life so you live a good meaningful life' vibe to the whole endeavor. (3)
If you ask me though, Lokeans probably still end up as wanderers in whatever comes after this. Hell, you got an infinite number of yous in an infinite number of parallel universes. You might as well experience a few of them.
(1) Gunnell, Terry. 2015. Pantheon? What Pantheon? Concepts of a Family of Gods in Pre-Christian Scandinavian Religions. Scripta Islandica 66: 55–76.
(2) Grímnismál in particular seems to say this, and perhaps implies that people end up in many of these.
(3) Yes, like the man says in Long Story Short.