What your referring to is called ledge hopping, and it's just as punishable as using a getting up animation. Whenever someone's on the ledge it becomes a mindgame of how they're going to get back on stage and if the other player can predict it, thus punishing it. Soooo... you can now use the 0-death combo, or at least the knowledge that you are capable of it as another factor of the mindgame forcing them to do a ledge hop, then you punish. Maybe not completely practical seeing as you have to be considerably in stage to perform the flip kick, and it's easiest to punish a ledge hop when standing at the edge, but idk... play with it.
Also, getting up from the ledge isn't the only situation this is usable. You could banana lock them right up to the edge and stop before that last throw that puts them off the side, and immediately flip kick (with spacing in mind).