Could The Lord Of The Rings Trilogy Have Been A MUCH Shorter Journey?

The Lord Of The Rings saga, while visually impressive and a feat of filmmaking wizardry, is also a VERY long affair to wade through. Even the most hardcore fans of Peter Jackson's films have a handful of notes as to how the whole series could have been a little more streamlined, with one particular point always sticking out: why didn't the Fellowship just fly the damned ring into Mount Doom with the Eagles who fly them home at the end? I mean sure, "one does not simply walk into Mordor," but fly...