ActionScript 3.0 :: Focus Events - Removing Text One Character At A Time

I'm trying to put the text back into a text field on FOCUS_OUT one character at a time. On FOCUS_IN, I want to remove the text one character at a time.

Here's the basic code:
major.text = "ActionScript 3.0";
major.addEventListener(FocusEvent.FOCUS_IN, inFocus);
major.addEventListener(FocusEvent.FOCUS_OUT, outFocus);
function inFocus(event:FocusEvent):void {
major.text="";// want to clear the text one character at a time
} function outFocus(event:FocusEvent):void {
major.text="ActionScript 3.0"; // want to put the text back in one character at a time
}

I attached a fla. that does this in ActionScript 2.0, but I'm trying to do this in ActionScript 3.0.