First of all, let me welcome you to webforumz and wish you a long and happy stay here.
I believe what you are trying to accomplish is fairly advanced to get a truly polished professional finish but then I am not tutored in Flash whatsoever.
I took the liberty of finding this for you:-
http://www.pinoy7.com/flash/morph.htm
I think Sirkent will likely have some tips for you however when he spots this thread.