I was messing around a bit and thought of this.
http://www.youtube.com/watch?v=-K8C-9C3RT0
It is a CG -> Bair -> footstool on snake.
Not sure if anyone gave it much thought, but there is not a whole lot Snake can do in that position without taking extra damage.
If the footstool works due to a person not doing anything or is a bit slow, Snake is now below the stage out of range for his 2nd jump to the ledge (falco can get there quickly anyway as seen in the video) and must C4 recover or cypher.
If he cyphers, below the ledge, it's a kill (you just have to tech the cypher). If he cyphers away from the stage that means he has to C4 recover and you still have the chance to kill him with a footstool. Even if you miss, Snake walks away with about 50% from the CG -> bair plus any extra damage he racks on with the C4.
The whole purpose of this is to avoid someone possibly SDI onto the stage from regular CG -> spike in which case Falco doesn't profit anymore unless they miss the tech.
I still have to test out some stuff with the 10 or so frames that snake can do something before the footstool attempt, but most things seem disadvantageous to him still. If he cyphers, you can do an immediate 2nd jump Dair on him. If he attempts to fall back, this puts him further below the stage and is still forced to cypher/c4 recover while falco can get back to the ledge to edgeguard. The only escape I can see is to quickly jump towards Falco and Bair, but I am not sure if he can do that quickly enough before Falco could footstool him.
I hope this could work on other aerially challenged characters.