Don't really mean to rain on your 'brainstorm', but this comes up on RCU every few months. It's actually a pretty neat idea, and several years ago there was even a manufacturer selling a system like that to save trainer planes from crashing! It was a 'pod' that strapped on top of the plane and contained a spring ejected parachute. The chute was ejected when a switch on the transmitter was flipped.

On their videos it seemed to work pretty well, but apparently it didn't sell very well because they disappeared rather quickly. Some people questioned whether a new pilot would remember to flip the switch when they were in trouble or would 'freeze' while the plane plummited to the ground!

Well, whatever, it would still be pretty cool to watch your plane float down! Kind of like a James Bond gadget![8D]