I dont know about getting from Madrid to Malaga but for accomodation I would recommend the Malaga Lodge (
Malagalodge - guest house malaga - cheap accommodation malaga - Home), its about 50 minutes walk to the school (or 15 minutes by bus if your feeling extravagent :-).
The owner speaks English very well and is well used to people who go to Aerodynamics staying there.
The Duchess they have is a nice aircraft.