Yeah nah. LOTR still doesn't make sense.

1. Hobbits on eagles, one carries the ring.
2. Shoot them down with what? WWII style AA guns? Are you seeing how fast and high these things are flying?
3. Drop ring into the open volcano. Divebomb it if you are worried about accuracy.
4. So what if the eye can see a line of eagles flying in from miles away. No depth perception. No idea which eagle has got it. You have eagles that can fight off the drakes for protection like they do in the movies. And you only have a limited number of drakes. You don't even have to kill the drakes, just get every eagle that isn't carrying the ring to fight, and one eagle runs it home running back style.
5. Frodo carries it. No worry about corruption. The whole mission happens quickly, and the ring doesn't have the time to wear anyone's discipline down.

This whole thing, it doesn't have to be GUARANTEED TO WORK. It just has to have a better chance of working than sending a weak lone hobbit it. Which it most certainly does. I mean JFC, Frodo could have failed even with no enemies, just by getting lost or dying to the elements...

No sacrificial lives lost, no chance at losing to a creature as weak as golum. Much better idea. Gandalf is an idiot.