RE: aerial rocket launching
While it may not be illegal, it is a bad idea.
If you insist on doing this, please go somewhere isolated. The last thing this hobby needs is the wrong person seeing a model shooting off rockets and jumping to conclusions. With the terrorism issues what they are, people may start seeing our aircraft as potential weapons which would lead to all sorts of red tape and likely lead to expensive and limiting licensing procedures to be able to fly.
My reccomendation would be to simply not persue this.