Have you considered a projector setup? Depending on your setup, you could position the projector somewhere unlikely to take damage from an airborne toy. A nice fabric screen would also be less likely to take incidental damage and *much* cheaper to replace when needed.
I have a couple friends who've gone with HD projectors in recent years and they've been really happy with the results!
I thought about it. Two things of concern. I have a ceiling fan right where the projector would be, and our room is really bright, even with the blinds closed.