The paper is focused on the navigation data exchange between two satellites moved in a swarm. The feedback control law is designed ensuring regulation of the relative satellites motion. The adaptive binary coding/decoding procedure for data transmission over the limited capacity communication channel is proposed and studied for the cases of ideal and erasure channel. Dependence of the regulation time on the data transmission rate is numerically found. The results obtained provides dependence of the required load of the communication channel on the desired quality of the stabilization process. It is demonstrated that for significantly high data transmission rate erasure of data in the channel with probability up to 0.3 does not make an effect on the regulation time.