You are walking a very fine line here and one I would not want to defend in tax court....
You should note that you would not be eligible for the overseas $87k until after you live overseas for one year. It is not an instant credit the moment you get off a plane. In addition, I think there is a requirement that you have a "tax home" or bona fide residence in another country, not just be traveling around. You might want to check the document from the IRS on this.
Setting up a shell company to pay yourself a salary can be done, but can be utter hell if you get called up for an audit. There are zillions of cases of 'piercing the company veil' in situations like this, including some very high profile ones just recently (and that guy spent a ton of money with his lawyers to hide millions).
I guess what I'm really saying is this isn't just something that is pretty simple to do. As people have pointed out, you might spend more money trying to avoid a tax than the actual tax itself, and you could end up down a slippery slope if an audit ever comes to you. Salary from a foreign company in a tax haven, overseas bank accounts, etc--these are RED FLAGS for the tax auditors and kick you into a 'more likely to be questioned group'. As someone said 'these are many great tricks to use to avoid taxes, until you get caught.'
I'd recommend talking to a lawyer or an accountant who specializes in offshore accounts. There are a few in Hong Kong, there are also quite a few in Florida, NY, and Washington DC area (there are a ton of people who live in the DC area who end up as expats for military or government reasons)