Regarding the possibility of bailing out of a large jet aircraft, yes, it is possible, but just about has to be properly built into the aircraft to have a chance of real success.
The twin engine Navy A-3D Skywarrior had no ejection seats, but did have a bailout door/chute between the pilot and navigator positions that has been used successfully a number of times. The bailout door was extended pneumatically to block the airflow and give the escapee a clear path as he fell away from the aircraft.
Nickname for the aircraft was the Whale, or All Three Dead, a sarcastic reference to the A-3D designation
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