This is the Best Idea, Sailor

This is your best option. The flares will light up your target without making you a target. They will also hang in the sky long enough to give you a good identification and to aim your guns. As well, the flares allow you to change your course without losing your light.

Warning! Once you fire your star shells the other ships will know something is going on. Expect to make your identifications quickly and start firing.