WCF: Issued Token authentication over Basic HTTP

I am trying to make a WCF service that will use token-based authentication (so I don't have to send a username and password with every request) but I would like to keep the interface simple, ideally Basic HTTP(S), because I need to be able to call the service from Flash. It appears that the Issued Token authentication mode has to be used with WS-Federation (and also comes with a bunch of other complexity such as SAML and STSes).

Is it possible to use token-based authentication over Basic HTTP? If not, what is the best way to accomplish this scenario?