Answer: Use a parachute. That's exactly what Stefan Oberlander did (you knew there had to be a catch, right?).
It's called Base-jumping and Oberlander was the first man to successfully land a base-jump on a mountain bike. Just in case you think that sounds easy, I'll let Stefan explain:
Keeping the bike and landing on it changes everything. If you keep it, you enter a totally different level of commitment as you must attach the bike to you; with all the possibilities for entanglements of your gear and only 1 parachute quite a step.
So far, everybody who has tried Base-jumping on a bike dropped it due to the complexity and the dangers involved in keeping the bike during freefall, deployment and landing.
Not that I'd ever have the guts to try such a thing, but who knew it would be so complicated? Go check out the before, during, and after photos.
Kind of reminds me of this Evomo poster.
Anyway, this is old news as it happened in July of 2006, however, I don't remember it getting much coverage at that time. Thomas at Bike-community.net resurrected the story.