Fun idea!
Don't know how powerful it is, as Crillaz pointed out, it's not very forgiving. Any mistake in movement can cause the entire house of cards to fall.
Anyhow, here's my two cents keeping with the theme of skirmishers and flyers only, thought on why at the bottom:
Old Blood: Carpet, (gamblers armour, dawnstone, GW. 2+ rerollable/6++ and S7 for can-opening duty).
OR
Old Blood: Carpet, (LA, Enc shield, Dawnstone, Biting blade/sword of striking/gold sigil sword) for 1+ re-roll, but not as good vs 1+ foes.
Skink chief Terradon, Blowpipe, LA, Ench shield, biting blade, BSB
OR
Skink chief, Terradon, Blowpipe, LA, shield, dragon helm, BSB, warrior bane/tormentor sword/luckstone
Skink priest lvl 2 heavens dispel scroll
12 Skink skirmishers w javs and shield
12 Skink skirmishers w javs and shield
12 Skink skirmishers w javs and shield
3 Ripperdactyls
3 Ripperdactyls
The old-blood is to add some durability to the army. The carpet still allows for a 4+ LoS!, to give some protection against canons. He should be able to take on almost every unit except death-stars, and survive. I think it's hard to decide if he should have 2+ or 1+ armour, since it also affects his damage output. And at 1000 pts he's limited to 250 pts. And he gives you a nice Ld8 general.
The hero-slot is also filled to the brim, it taxes in at exactly 250 points. With a blowpipe the chief can at least to something even if you use him as a redirector. He also has a 2+ save, and that's pretty decent. The BSB is there to keep the units in line, you don't want the rippers to fail the frenzy-check. (remember that if he breaks from combat, he's dead)
Since the entire army is skirmishing with at least 6" move, and it's only 1000 pts, there should be plenty of room to dance around the enemy. But it does require some careful movement. Most of the time the rippers should vanguard and end the move with the back against the enemy to avoid frenzy-checks and unfavorable charges.
If you don't like the old-blood, you can drop him, drop or keep the BSB (the priest can be the general) and add either:
increase rippers to 3x4
OR
Add 2 razordons and 1 salamander with some spare points
OR
3 Salamanders (2x1+1x1)
OR
2x3 Terradons with some spare points (enough to increase skinks to 4x10 instead of 3x12)