The only way that I know of to make a launcher without some potentially devious 3rd party software would be to download an older version of the Adobe Flash projector (10.3), as the older version enables the "Create projector..." button in the file menu.
This does mean that you will be using an older version of flash, however, and I recommend against it.
Your best bet for a launcher of sorts is to install Muledump and set up the one-click-login.