Your idea about bailing might work sometimes, but you'd better have a plan that doesn't involve going under another vehicle etc.
It might also be an idea to have a quick discussion with the pillion to canvas opinions. They could be a tad tetchy if you came out OK and they got mashed.
As for the flying suit brigade- it looks brilliant, but you'd need a lot of speed to generate enough lift. I cringe at those close runs along the terrain because if you were needing to pull up to clear an obstacle, you'd be flying very close to the stall and the moment you stalled that "wing" it would be all over red rover!