I like it...
Joystick, pedals, rudder controls, driving a constantly-forking code prediction interface on screen which is helping determine your next line of code based on where you drive or fly. Thinking about PilotWings, where you have targets, but you can choose between them.
Each drive or flight is a context, IOW the area inside the brackets / indentations in your editor. Switch contexts very, very fast using something like even holding down a joystick button and moving the joystick, for example. So you'd have all these environments to fly in, and they could even be generative, unfolding as the code characteristics specialize.
Bonus, attach a big knob somewhere, like on the joystick, for timeline control, which would be like undo / history. What do they call this thing on old video editors? Seeker? Spinner? I forgot.
But this is just using one metaphor, in a very on-the-nose sort of way. I'm sure there are tons of different ways to go...
...like sometimes I wish I had a foot control that would recognize the cadence of my feet moving and use that for workspace (mind) suggestion, direction, and control. Ah well, maybe in the future.
Interesting q! No matter what you do, it'd suck in some ways, but it would also have some advantage, some unique thing, and IMO that's the really interesting part. Like maybe the joystick tool I described would be best for prototyping or scaffolding or who knows what.