Step 1 is to not get afraid of RCO. If you do you're gonna focus on it and become predictable. Sometimes it's much easier to ledge attack or ledge roll your way through your opponent and then run away to get rid of the RCO in a safe place.
So never forget it but never stress too much about it.
Step 2 would be understanding your options from the ledge and use them accordingly. Falcon has no "get back on stage free" move, because his ledge getup is horrible compared to the rest of the cast.
Your best options are :
-Ledge drop jump regrab. Buys time and refreshes your invincibility (very important). Use it so you don't get stagespiked by some weird move like Peach's Dsmash.
-Ledge drop jump Uair. Good range, unpunishable, forces your opponent to stay at a certain distance from the ledge.
-Ledge drop up B. Kills shielders or people that want to throw a slow move. Super effective against people that don't know the matchup. Abuse its apex mobility and its land sliding in case you whiff.
-Ledge drop jump land canceled Nair. Both hits work, especially the second since people always forget to shield it. Also works with Uair.
-Ledge drop jump airdodge. Just say "**** it" and bear through the RCO like a real man. Good versus opponents that use fast moves with long cooldowns.
-Ledge jump anything. Under 100% Falcon's ledge jump is actually one of the best in the game because you keep some activable invicibility frames. Pretty good to get away on a nearby platform.
Etc etc, just assess the pros and cons of everything, because every option will help you one day.
Step 3 would be to keep cool and not commit. I know you can feel pressed when you're on the stage but seriously don't hurry yourself. Wait for your opponent to make the first move, or at least for the momentum to wear down. You'll get back safely much more often if you watch for your opponent's positionning, or if you bait them with ledge drop jump regrabs.
One last thing I'll add is that you can ledge cancel your RCO on BF (and SV but it's harder) by ledge jumping and landing on the edge of a platform while drifting forward at full speed. If done correctly you should immediately fall off the edge, ready to perform any aerial.
#walloftext