Why would you exile this if you cast it for its madness cost? I don't want to have to decide between my big flyer and an extra turn. Also, you have two of these in the set.

It prevents infinite turns by bouncing It repeatedly through Vedalken Mastermind or other cards of that nature.

...Actually, I don't think it does, because you can bounce it in response to the trigger, and then the triggered ability gives you the extra turn without checking if you exiled it.

That's quite the fatal flaw, I'll reconsider the wording.

Fixed

Well, you could still Remand it, since this has a triggered ability that will resolve evening the spell doesn't. You could avoid that by saying "When ~ ETBs, if you cast if for its madness cost, exile it. If you do, take an extra turn after this one."

That works indeed, but using that combo costs about 7-mana for an extra turn and a free card. An infinite combo with this and Remand exiled with Isochron Scepter is possible, but that would be a fragile three card combo. Keeping it as it is should offer some fun in casual magic, seeing as if it were completely fixed to avoid infinite combos, then it would stick out as a vanilla flyer with a largely suppressed ability.