This paper presents a novel approach to vehicle platooning using combined formation-regulation control, aiming to enhance the operation of Connected and Autonomous Vehicles (CAVs). By integrating advanced control algorithms with precise positioning and synchronization tools, our methodology enables CAVs to autonomously navigate while maintaining minimal inter-vehicle distances, thus optimizing convoy synchronization. The proposed system consists of two main controllers: a speed consensus controller to synchronize vehicle speeds and a following distance controller to ensure safety. Our combined control approach combines these controllers dynamically based on real-time vehicle spacing, employing exponential functions to smooth the transition between control modes, thereby preventing abrupt changes in vehicle behavior. This method not only increases energy efficiency and traffic throughput but also significantly reduces the likelihood of accidents caused by sudden braking, contributing to decreased fuel consumption and enhanced road safety. Our work not only advances the technology of vehicle platooning but also promises broader implications for the overall transportation ecosystem.