A system and method for controlling vehicular traffic flow is disclosed, which creates a communication system between vehicles that allows the vehicles to share their respective velocities and acceleration or deceleration rates. Thus, each vehicle within the system can respond immediately to any acceleration or deceleration rate changes of the surrounding vehicles (e.g., the vehicle directly in front, directly in back, and in the adjacent lane). Essentially, the system functions similar to a wireless vehicular train, with a queue of cars linked together by a stiff, wireless communications “chain”. Notably, the term “vehicle” is not limited only to land-based vehicles (e.g., motor vehicles), and the system can include airborne vehicles (e.g., multiple aircraft flying in close formation, military aircraft flying in drone formation, etc.). For example, a system for controlling vehicular traffic flow is disclosed, which includes in each vehicle of a plurality of vehicles, a wireless or infrared (IR) modem for inter-vehicular communications, a range finder for determining the distance and closing rate between vehicles, a processing unit for retrieving vehicular operational data (e.g., velocity, angular velocity, acceleration rate, deceleration rate, braking pressure, weight, pointing vector, etc.) and executing flow control system software instructions, and a vehicular flow control communications protocol that enables the communication of various flow control parameters between vehicles via the wireless or IR modem. Thus, each vehicle in the system “knows” what the surrounding vehicles are doing and can respond immediately to changes in the traffic flow. As such, the system minimizes the distribution of vehicles' velocities in the queue, and increases traffic throughput and safety as a result.