I use a soft takedown case, putting the limbs and riser in wool socks (the kind you wear on your feet, not bow socks). I can put the riser and 2 sets of limbs in the case, then pack the case in the middle of the clothes as in the first response above. I also use a homemade PVC tube for arrows.
I would not use any kind of an obvious bow case...why advertise? My stuff has been inspected by TSA several times, no problems at all. Have been through customs in Canada and Australia as well as coming back into the US and flying all over in the lower 48 and to AK and never had a problem packing a takedown recurve this way.
I take off the broadheads, wrap them in paper towels and put them in a small plastic box labelled "Caution Sharp Edges Inside" as well. Don't want a TSA guy to get cut and throw my stuff away to get back at me!
R