$newObject = clone $oldObject;You can do the same thing in Flex:
import mx.utils.ObjectUtil; var newObject:Object = ObjectUtil.clone(oldObject);However, this function is only designed to clone data objects. Meaning only objects that holds pure data. It will not work for objects like UIComponent. For the later instance, you will need to create a subclass of the component and implement a clone method instead, or you can try a class written on ADM Blog for cloning none data objects.