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var tf:TextField = new TextField();
tf.multiline = true;
tf.autoSize = TextFieldAutoSize.LEFT;
tf.text = "<a href='event:hoge|args1,args2'>hoge</a> fuga";
tf.addEventListenener(TextEvent.LINK, linkHandler);
addChild(tf);

function linkHandler(event:TextEvent):void
{
  trace(event.text); // trace -> hoge|args1,args2

  var name:String = event.text.split('|')[0];
  var args:Array = event.text.split('|')[1].split(',');

  switch (name) {
    case "hoge": hoge.apply(args);
  }
}

function hoge(args1:String, args2:String):void
{
  trace('hoge args1:'+args1+', args2:'+args2);
}