With Alchemy I compiled the lua-5.1.4 code as is with "make generic", generating all the "libraries" (.swc in AS terms) and executables (.swf in AS terms). This includes the lua "executable" (really a swf executed by swfbridge), if the normal lua executable can execute the bitcode or .ll files produced by LLVM then the alchemy build probably could.
Before doing the port I only knew Lua existed so I'm learning the domain as I go (got my 4 books in the mail today for some lite reading).
The proof of concept project I posted has instructions and makefiles to build it all.
http://code.google.com/p/lua-alchemy/downloads/list--Robert