Complex sentence: Primary Flight School was at NAS Pensacola and it taught basic flying and landing using the NAF N3N or Stearman N2S Primary trainers, dubbed "Yellow Perils" from their bright yellow paintscheme (and the inexperience of the student pilots).
Split into simpler sentences: Primary Flight School was at NAS Pensacola and it taught basic flying and landing. It used the NAF N3N or Stearman N2S Primary trainers, dubbed "Yellow Perils" from their bright yellow paintscheme (and the inexperience of the student pilots).