Essentially a flyby over the runway is nothing more than a planned and prepared go-around from a low altitude. If you say it is a stunt then it probably is not allowed under most legislations. And because of noise regulations airports aren't too happy with the manoeuvre either.
However, nobody will stop you from going around if you "forget" to put your gear down.
I have been in the cockpit on several flybys at several airports, all of them were dressed like a missed approach / go-around along the following lines:
Pilot > "Tower, Hotshot01, requesting permission for a flyby over runway XX
Tower > Negative Hotshot01, you know we can't allow that any longer due to noise restrictions. I can't prevent you from making a go around though! Cleared to land RWY XX.
Pilot > Hmm... ok, cleared to land, Hotshot01
<Hotshot 01 approaches the threshold and applies full power>
Pilot > Hotshot01, going around.
Tower > You owe me a beer now! .. <vectors back to final approach / final destination> //
It must have been a long time ago if they were still using Roman numerals for the runways!
Heh, is that RWY XX Sinistro or Dextro?
