Well it really depends upon what you mean by the first bit.
It sounds like you might want to make your Class and then instances
of that class will all inherit the same properties, methods, and
events. But it is hard to know without more detail.
And the same for the second part of your question as well.
I'm not sure what a framebased alternative to hitTest would be. Or
why you would want an alternative to hitTest. It all depends upon
what types of collisions you are trying to check for. Grant Skinner
has a very nice Collision class that uses bitmaps. There is some
really good math out there for other types of checks.