In this paper, the dynamics analysis, inertial propulsion force allocation, and magnetic moment solution for multispacecraft electromagnetic orbit correction, which are especially valuable with potential applications to disabled spacecraft deorbit missions, are investigated. The dynamics analysis of the coupled absolute orbit motion correction and spacecraft relative motion keeping, the allocation of the inertial propulsion force, and the coordination design between inertial propulsion force and intercraft electromagnetic force are challenging and have not been resolved. This paper first analyzes the actuation and coordination problems of these coupled forces, and it derives the relative motion dynamic models of spacecraft with respect to the mass center of spacecraft cluster and one spacecraft with respect to the other. Then, taking a three-craft cluster, for example, the magnetic moment solutions for collinear and triangular static equilibria are given, which are possible rigid configurations for orbit correction. Based on these configurations, the orbit correction performance is analyzed and evaluated. Finally, the numerical simulation of a geostationary orbit collinear configuration is carried out that, combined with the theoretical deduction, validated the feasibility of dynamics and solutions for the multispacecraft orbit electromagnetic correction.