Whether it works or not its a novel and interesting concept none the less, definitely a crowd pleaser at events. I'm very interested to see how you'd go about this and whether you could get it to work. I don't know much about it but you could probably get your translation from a reaction wheel. How would you go about getting everything to fit in it? Pancake motor with everything else ontop/around? I guess you would only need two motor drivers, one for your reaction wheel and one for your spinning motor. You might need a custom solution to map your reactionwheel control to understandable controls on your transmitter, you could probably do this with a microcontroller like an ATTiny or PIC. Then you need to fit your battery and receiver as well. Quite the challenge but if executed would be awesome.