Each of the things you want to do ((i) a 3 year business degree, (ii) become a flight instructor from scratch and (iii) set up a photography studio) is a full time occupation in itself - and that's before you factor in your family responsibilities.
My gut feel is that it would be better to do one thing really well than to try to cram too much in at the same time which might result in everything suffering.
A business degree (an MBA??) will often lead to a specific type of occupation - eg an investment banking, consulting or industry job. I decided against an MBA when I realised that the types of opportunities such a course might create were not what I particularly wished to do.
If you have a good idea for your own business, the best advice would be to develop a coherent plan, encourage people you trust to critique it for you, hone it and then get on and do it.
Ultimately, do something that you'll be good at and that will make you happy.
If you ended up doing something totally different, you could always endulge both your passions at once by photographing aeroplanes in your spare time!