Have you considered changing the paladin spell progression? In my games they have something closer to bard, allowing spells of up to 6th level from the cleric spell list. We do the same with ranger, with druid spells or grant him a sneak attack-like ability (we call it critical shot) to bring them up to par.
Wings of the Eagle
Level Paladin 1
Components: V, DF
Duration 1 round/level
Casting Time: Swift action
Saving Throw Will negates (harmless); Spell Resistance yes (harmless)
You sprout a pair of angelic wings from your back, letting you fly at a speed of 60 feet (or 40 if the subject is carrying a medium or heavy load, or wearing Heavy armor. Medium armor does not slow you). You can ascend at half speed and descend at double speed, and your maneuverability is good.
Using the Wings of the Eagle spell requires only as much concentration as walking, so you can attack or cast spells normally. You can charge but not run, and you cannot carry aloft more weight than your maximum load, plus any armor you wears. You gain a bonus on Fly skill checks equal to 1/2 your caster level plus your charisma modifier.
Should the spell duration expire while the subject is still aloft, the magic fails slowly. The subject floats downward 60 feet per round for 1d6 rounds. If it reaches the ground in that amount of time, it lands safely. If not, it falls the rest of the distance, taking 1d6 points of damage per 10 feet of fall. Since dispelling a spell effectively ends it, the subject also descends safely in this way if the fly spell is dispelled, but not if it is negated by an antimagic field.
I would change it to level 2 (as most people stated), and grant the paladin a +4 bonus to charisma. That turns it into a nasty combat spell, that does not lend itself to abuse through scrolls or potions. The duration is what keeps everything in check.