A lot of Iron Man’s options can be stopped by Tsukuyomi and Red Riot giving him a 3x durability advantage all across his body, so Danmaku and other options can be blocked.
He doesn’t really have an answer to All Might’s close combat either, as AM can clear the distance with his higher movement speed from Uravity and Ingenium to bind him with Blackwhip or Tailman. Electricity won’t do much but he’s still got a 2x advantage to abuse with just regular punches and Shoot Style, as well as Earphone Jack sound waves to blast Iron Man with.
All Might’s fighting style with the suit is built around using his colossal LS gap to restrain and beat down opponents, so if he catches Iron Man even a single time with his many options, it’s nearly impossible to escape. He can even use Creati to just morph his armor into chains or bindings to keep him from breaking free or using his arms, or combine it with Blackwhip.
IMO, Iron Man has to play a super long ranged game that he has a low chance of winning. Armored All Might’s has the durability to withstand basically anything he throws at him, especially with his higher defense equipment, and all he needs is to get in close or land one of his many binding objects to cripple Iron Man heavily.
Also, Shoto should be Ice not a flamethrower, that was cleared up in the anime because the manga isn’t actually clear on what it is, but it LOOKED like fire so many assumed it was. Anime shows it as ice, which makes more sense considering his goal was keeping AFO in place.
