Yes, we should allow a no-fly list if it is in the name of national security and safety. The ability to fly on a plane is a privilege, not a right, and as such, that privilege can be revoked if need be. No-fly lists are not in violation of any right.
A no fly list soudns ominous because it soudns like our country is trying to imprison us but the reality is that we need a notily list to help keep certain criminals within the country. No fly lists are used by law enforcement officials to great effect. I definitely approve of them.