[dimarik]

Что-то нашло. Более универсальный вариант

/**
 * @private
 */
function getEssential(evaluateFunction:Function, evaluateCollection:Array):Number {
	evaluateCollection = evaluateCollection.slice();
	var interim:	Number;
 
	while ( interim = evaluateFunction.apply(null, evaluateCollection) ) {
		evaluateCollection.shift();
		evaluateCollection[0] = interim;
	}
 
	return evaluateCollection[0];
}
 
 
var arr:Array = [1, 12, 123, 546, -2, 2, 67, 7];
 
trace( 'Minimum: ' + getEssential(Math.min, arr) );
trace( 'Maximum: ' + getEssential(Math.max, arr) );