I'll be running a panel at Furfright as well. If you were there last year, I was the guy that ran the Zombie Apocalypse panel, and I'll be there this year doing the same thing. I've also done several stand-up/improv comedy panels at other conventions.
Anyway, the biggest thing you need to be aware of is to make sure you know what the fuck you're talking about. Nothing is worse than a panel who's panelist either knows nothing about the subject, or brings "notes" and has to keep checking them for this or that.
Actually, over all, just don't bring notes. It makes you look like a tool. Just talk. Talk a lot.
A panel is just like an essay in high school, it should be there to do one of the following to the reader:
1. Entertain
2. Inform
3. Persuade
Since this is an informal furry convention, you aren't going to be persuading much of anything serious, so I'd stick to the first two.
If you're going to entertain, do so. I know it's all serious business military stuff, but a joke won't kill you. Entertain the audience or nobody will stick around and you wont be invited back next year. Tell subject appropriate jokes, involve the audience in your discussion, don't just talk on and on and bore them. If someone wants to add something in or ask a question, let them. Nothing pisses off panel attendees more than being snubbed by the panelist for no reason other than the panelist thinks they're more important.
That being said, don't let them walk all over you, either. It IS your panel, and they need to respect that.
If you're there to inform, do so. Prepare facts in advance, bring up interesting stories people haven't heard before. Information is the key if you go this route. Don't talk about stuff that is common knowledge, talk about things most people wouldn't know and would learn from you if you told them.
Also, for fucks sake, SPEAK UP. If the audience can't hear you, nobody will care. Project your voice, make sure they can hear you. If you aren't sure, ASK. Furfright didn't give me a microphone last year and they probably won't give you one either, so don't count on it. You'll be on your own.