There are some ways to code 3D, but it's not ideal
However, there are some great extensions, although you usually you have to pay for them, that allow to load .3ds files directly and manipulate'em as if they were movieclips
But this is not the gold mine you might be thinking, people like their simple Flash games, which is why websites like Armor Games, Kongregate and Newgrounds are making so much money out of it
Think like the Wii casual players, they just wanna have a good time, and they might find their first Tower Defense game more fun than your 3D game