Continued from Butterfluff's review.
Mel builds a cockpit mockup using levers and switches and drawn gauges. He teaches Frodo modern to fly using it. Fly, land, and take off.
Since Mel had no physical possesions travelling with him, his skills are his equivalent of possessions. Including Sting and the One Ring. As long as Mel can still use the skills for himself, Frodo is only his heir.
Then the senior hobbit is too old to adventure on his own. so to save the world... er, story, Frodo has to take the Ring (this time helping themselves to a plane, thief Baggins stole the Precious!)
But no Gollum, and the Ring survives, because we have deadlier Rings now.
I wonder if Bilbo had a crush on Arwen?