The last significant use was by Ron Meyer coaching the Colts in the late 80s
The Indianapolis Colts have found a winning formula with a seldom used weapon--the wishbone offense.
www.latimes.com
The wishbone formation used by the Indianapolis Colts is more than a gimmick. Consider it protection against injury, which is better than wishful thinking.
www.chicagotribune.com
NFL speed on D can usually negate the wishbone, like it negates the "wildcat" aka single wing, due to an inherent imbalance toward the run.
Defending multiple options requires some discipline, though. Georgia Tech regularly runs a triple option offense having many wishbone concepts, and even athletic teams are often not mentally up to stopping it.