Thanks dude. This method may work.
I want to have a character that can instantly switch from orbiting a planet to freely floating. I want the character's angle and velocity to factor into how it orbits a planet instead of simply orbiting at a predetermined speed and distance.
EDIT: Maybe this won't work. If the character is floating towards a planet, I don't want it to start spinning around that planet when I active orbit. I'd like the character to go 'through' the planet and back and forth.