Trevor McCauley did the hard part years ago, as is often the case, but it seems like there's no source code out there showing text along a path in Flash using actionscript 3. I'm not the only one thinking about this – the degrafa folks have got the extremely capable algorithmist Jim Armstrong looking into the problem too.
I don't have time to write a full explanation tonight (packing calls, tomorrow I'm in Montréal for Design Engaged), but I've got a quick solution which might be of use to you if you googled upon this page. Read on for more if you're interested in a quick overview.
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