i personally don’t like bulky Cairngorm as it’s clearly designed with Java in mind. In my work I use own framework called Ctx (after the main class). This dependency injection (or IoC) style framework is ideal for dynamically typed language like ActionScript3.
There are many IoC frameworks but Ctx uses mainly closures and not events. For me, closures are better because using closures gives more clear workflow than passing events (i don’t even mention that you need to create multitude of event classes with such frameworks)
Please read introduction here

Source code and examples are available here http://code.google.com/p/ctx/

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