What about something like this?
function onClick() {
var prevCamera = camera;
camera = new THREE.PerspectiveCamera(...);
camera.position.copy( prevCamera.position );
camera.rotation.copy( prevCamera.rotation );
var MODE = { TRACKBALL: 0, FLY: 1 };
switch( mode ) {
case MODE.FLY:
controls = new THREE.TrackballControls( camera );
mode = MODE.TRACKBALL;
break;
case MODE.TRACKBALL:
controls = new THREE.FlyControls( camera );
mode = MODE.FLY;
break;
}
}