This is really a cool and necessary add on by GSkinner. They have made a panel for Flash CS3 IDE which will take care of publishing AIR Applications. As a Flash developer usually uses Flash IDE for day to day work, this add on will make room for more AIR Applications.
Installation instructions and necessary downloads are available at gBlog. Installation is quite straight forward and easy. One will get going in 1, not really but 3 mins for sure.
The above is my installation of the AIRPanel. I am happy now ;).