To cut a LOT of rambling short, this naming scheme is inspired by the elegance of inter-Beatles ship names, which all derive from the 'greater unit' of McLennstarrison. This unit contains all two- and three-Beatle ship names within it, easily derived from the greater unit with minimal exceptions.
The greater unit I propose for the Wilburys is Dylorblynnettarrison, which determines the order of the names for each ship, optimized for ease of memorization and portmanteauing. The most important note is that rather than shortening "Harrison" to -ison like the Beatles ship names do, it is instead shortened to -arrison in order to avoid confusion with "Orbison." While the most instinctive ship name for, say, Jeff Lynne and George Harrison might be "Lynnison," this could be read as Jeff/George or Jeff/Roy. Not good!
Three-Wilbury ship names can also be derived from this greater unit, such as "Dylettarrison." I recommend against using this formula to make four-Wilbury ship names. For the George/Jeff/Tom/Bob ship I recommend the name "Fourburys" (in a similar vein to "Threetles"), but that can be workshopped. Feedback is welcome.
Thank you to @stiingrei for the assignment, I hope this suffices.
okay i confess that my tags on this post were not entirely correct; steve harrington and richie tozier DO have 'fought monsters as teenagers in 1980s rural america in a mythos either directly created by or heavily inspired by stephen king' in common. but in terms of personality, they're not the least bit fucking similar, lmao