from what i understand no this will not work, RAF only works when creating a completely new account. here is a link to the info that WoW has about RAF:

http://us.blizzard.com/support/artic...l=true?rhtml=y

also if i understand you right then you are wundering if say you have 2 characters linked through RAF and you group with 3 other characters will they all get the 3x exp bonus + the level up bonus. no this will not work it will only work with the 2 accounts that are linked.