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.

Ortho Type is a 3d font concept from Enrico Bravi, Mikkel Crone Koser and Paolo Palma, with virtual and physical implementations. The demonstration applet allows you to write your own messages, and the interface allows you to read the message from different angles. It has to be seen moving, I think, in order to appreciate just how smart it is. I would definitely buy a box full of these - I want to pick them up and move them around!
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