Clinton would probably lose in 1996, presumably to Colin Powell (if he runs) or John McCain.
Remember, 9/11 only helped Dubya because he was able to exploit it for his own reelection (and invading Iraq). I can't see Clinton being able or willing to do the same.
Pilots and squadrons from the city I lived in were deployed to go bomb Belgrade in the middle of the president's existential crisis scandal.
Clinton goes hawkish to counter the 1993 impression that all Democrats since Lyndon Johnson are doves that can't handle defense and foreign policy properly. Think it's likely the Republican Revolution does not occur to near the degree it did. I don't feel we know how 1996 can play out, I can see arguments either way.