Yes, you would want to use the URLStream class (URLLoader doesn't support partial downloads) and the HTTP Range header. Note that there are some onerous security restrictions on the Range header, but it should be fine in an AIR application. Here's some untested code that should give you the general idea.
private var _us:URLStream;
private var _buf:ByteArray;
private var _offs:uint;
private var _paused:Boolean;
private var _intervalId:uint;
...
private function init():void {
_buf = new ByteArray();
_offs = 0;
var ur:URLRequest = new URLRequest( ... uri ... );
_us = new URLStream();
_paused = false;
_intervalId = setInterval(500, partialLoad);
}
...
private function partialLoad():void {
var len:uint = _us.bytesAvailable;
_us.readBytes(_buf, _offs, len);
_offs += len;
if (_paused) {
_us.close();
clearInterval(_intervalId);
}
}
...
private function pause():void {
_paused = true;
}
...
private function resume():void {
var ur:URLRequest = new URLRequest(... uri ...);
ur.requestHeaders = [new URLRequestHeader("Range", "bytes=" + _offs + "-")];
_us.load(ur);
_paused = false;
_intervalId = setInterval(500, partialLoad);
}