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Someone far smarter can correct me if I'm wrong, but I believe it's almost impossible. Blizzard only supplies Coordinates on an X, Y axis. They have no Z axis to factor in, meaning no way to tell how high you are.
The only type of addon I could see working to give you a rough idea is a waypoint addon that also factors speed. Carbonite does this on my machine, so that when I set a waypoint and fly towards it, it shows my speed on the map. If I fly completely horizontally, my speed will show correctly. If I alter my flight by going diagonally forward/up my speed is reflected as slower, since it will take me longer to go from Point A (current position) to Point B (destination).
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