Develop a 386 cpu virtual machine using Flash as3. The simulator runs 386 assemble code by interpretive execution. And the the assemble code is disassembled from the exe file that compiled from c/c++. In this way c/c++ programs can run in flash.
c/c++ will call operating API, that can be hooked and redirected to flash API. Special operating APIs may not work, for flash does not support.
The whole system(disassemble & simulator) is called c2flash for short.
This may be a big project

An interpreter in Flash? Interesting idea, but I'd expect horrible performance from it. How many Ops per second do you expect it to achieve?

Maybe very slow, but some program very simple.