Doffy isn't tagging him at all and doffy is going to need to land lots of hits with awakening to get past luffys new lvl of armament haki (even in base) to even wear him down enough to put him down for good
I think a serious Doflamingo is still going to crush Luffy at this point. The stat boost from gears have not been made up for.
R2 Luffy for sure
At this point Luffy is keeping up good enough and his blows are lethal since they'll be bypassing durability a fair bit. Doflamingo's organ stitches don't really matter when he has to do so much instantaneously.