Three years ago, I had an idea to write my own Flash Player in Javascript, but I was too lazy to start working on it.
Today, we have PDF.js, emulators of gaming consoles, or even emulators of a whole x86 computer, which can run Windows OS. I believe that "SWF interpreter" in Javascript can run pretty fast. The specification is free available online.
The only problem I see is, that in Flash, you can create TCP / UDP sockets, which is not possible in a web environment.