exerda,
Not knowing the configuration of your airport, here is what I recommend:
If possible, go to the checkpoint first before checking your luggage in. Ask to speak to a TSA supervisor and show him or her your light saber. If the supervisor sees no problem with it, then you have your answer. Otherwise, you can tuck it inside your baggage before you check it in.
If it were me making the call, I'd let you take it with you as carry-on.
One last thing, when you process through the checkpoint (assuming the supervisor gives you the go-ahead), remove your saber from the carry-on bag and run it through the x-ray separately. This will allow the x-ray screener a clear view of your saber as opposed to seeing it inside of a bag which may make it appear as something else.
Good luck,
May the Force be with you.