Dynamically Generated Objects

Can an Object be generated in a class by referencing other classes dynamically?

For example:

public var myArray:Array = ["Item1","Item2","Item3","Item4"];

public function makeObjects(myArray:Array):void{
    for (var i:uint = i; i<myArray.length; i++){
        //This is where the question is...
        public var myArray*+Instance:myArray* = myArray*();
        return myArray*+Instance;
        //or slightly different scenario...
        public var myArray*+Instance:myArray*+Alt = myArray*+Alt();
        return myArray*+Instance;

The Strings represented in the Array are classes that are partial class names. In this example, however, they represent the full class datatype and constructor that already exist.

Is there then a way to dynamically generate the objects that have reference to a specific class without hard coding each one?