Multi-threading is actually pretty over-rated.
What are you trying to achieve with multithreading? Doing 2, 3, ... n things *at the same time*.
People often complain about "why does FS use only 1 core??!!". Answer: there are some things that simply can not be *parallel processed* and a simulator is one of them.
The objective of multi-threading gauge drawing with the sim is because the drawing can take longer than the time-slice allocated to the FSX process. The operating system thread scheduler allocates time slices (typically 32 ms) to a process before moving to the next thread. A multi-core (or multi-processor - they are the same thing in this context) allows unrelated tasks to be processed simultaneously, so instead of:
Take A, task B, task C...
You get:
Task A
Task B
Task C
More, in less time.
I'm sorry if this is stating the obvious so far...
In my experiments so far, it isn't possible to get the gauges to update faster than the sim will refresh the underlying drawing surface (e.g. you can not get the sim to run at 10 FPS while an ADI draws at 60 FPS). In other words, you can draw as fast as you like; the sim will draw the actual image on the instrument when it is good and ready!
As long as you can draw in less time than the sim frame rate (I aim to draw faster than 60 Hz, or 16.6667 ms per drawing frame) then the drawing will never eat so much CPU power that the sim drags to a halt.
If your drawing does seriously adversely affect performance, then offloading the drawing to a separate thread means the main FSX thread can run as it wants, but at some point the output of the drawing thread must meet with the gauge update routine of FS. You need to synchronize this in such a way that you aren't in the middle of drawing when the sim wants to start updating the gauge. This can result in flickering/blank gauge updates.
Multi-threading is itself a huge topic. The single biggest problem is avoiding race conditions of reading/writing simultaneously. A variable only ever accessed from one thread never has this problem, but as soon as two processors try to deal with the same variable, all hell breaks loose. A big problem is thread stall, where a thread just spins until the variable it is trying to access becomes available. This holds up the entire processor/core until it is free. The other thread that is making the access either reads the correct data, or reads null data.
Multi-threading is not a magic bullet to the problem of drawing taking too long. If it is the case that the drawing routines are eating serious CPU power, then you should start with looking at optimizing your drawing. At the end, we are only drawing a few 2D elements; they write Crysis 3 with higher performance.

Just creating a separate thread is itself not an answer, and can in fact reduce performance or create other problems if not done correctly.