Satellite formation flying technology constitutes a significant area of research within space missions, with traditional spacecraft capabilities often being constrained by the limitations of propellant use. Electromagnetic Formation Flying (EMFF), a technique that operates without the need for propellant, has garnered considerable interest due to its potential to overcome these limitations. However, the intrinsic strong nonlinearity and coupling within EMFF systems introduce complexities in achieving high-precision control. This research elaborates on the dynamics of a dual EMFF system within the framework of port-Hamiltonian systems, formulating an elaborate, high-accuracy nonlinear dynamic model. Utilized the principle of timed Interconnection and Damping Assignment, the research proposes a control strategy specifically devised for EMFF, facilitating the regulation of magnetic dipole strengths among the formation satellites. The practicality and efficiency of this approach are subsequently corroborated through numerical simulations, demonstrating its applicability to Projected Circular Orbit formation reconfiguration endeavors.