This paper presents an approach for formation control of multi-lane vehicular convoys in highways. We extend a Laplacian graph-based, distributed control law such that networked intelligent vehicles can join or leave the formation dynamically without jeopardizing the ensemble’s stability. Additionally, we integrate two essential control behaviors for lane-keeping and obstacle avoidance into the controller. To increase the performance of the convoy controller in terms of formation maintenance and fuel economy, the parameters of the controller are optimized in realistic scenarios using Particle Swarm Optimization (PSO), a powerful metaheuristic optimization method well-suited for large parameter spaces. The performances of the optimized controllers are evaluated in high-fidelity multi-vehicle simulations outlining the efficiency and robustness of the proposed strategy.