[this.create]

function doSmt(tx:String):Void {
    trace(tx);
}
var sampleText:String = 'do';
setTimeout(doSmt, 1000, sampleText);

То же самое:

function doSmt(tx:String):Void {
    trace(tx);
}
var sampleText:String = 'do';
setTimeout(this, 'doSmt', 1000, sampleText);