Activated as an intermediate echelon organization for Fifth Air Force in late 1943.
From May 1944 to August 1945, it operating as a command and control echelon with various groups that were attached for brief periods in the Southwest Pacific Area. After the end of hostilities, the wing became responsible for establishing and operating an aircraft warning system in the Philippine Islands.
All personnel and equipment transferred to the 64th Fighter Wing on 15 February 1946 and the unit became an administrative unit. Inactivated on 15 March 1946.
Allocated to the Colorado Air National Guard for command and control origination for units in the Rocky Mountain region (Idaho, Montana, Wyoming, Colorado, New Mexico) of the United States. Extended federal recognition and activated on 3 July 1946.
At the end of October 1950, the Air National Guard converted to the wing-base (Hobson Plan) organization. As a result, the wing was withdrawn from the Colorado ANG and was inactivated on 31 October 1950. The 140th Fighter Wing was established by the National Guard Bureau, allocated to the state of Colorado, recognized and activated 1 November 1950; assuming the personnel, equipment and mission of the inactivated 86th Fighter Wing.