At a UK Old Time festival a few years back there was an Uncle Dave Macon "Tribute band" actually a duo from America reproducing Uncle Dave's performance.
"Dave" did the banjo tossing thing. The technique was to flip the bottom of the pot outwards and upwards, so it flipped back towards him and landed for a safe catch.
I don't think it works as well with a shoulder strap attached to the banjo.Quack!
GtD.