The Magnus Effect, which makes a baseball curve, is is most simply illustrated with a cylinder spinning around its long axis. The cylinder's surface carries the surrounding air with it like a whirlpool. If the cylinder is dropping through the air, with the long axis horizontal, the spin pushes against
the approaching air on one side, and pulls along the approaching air on the other. The air pushes and pulls back, and the cylinder goes sideways--it glides like a wing, for much the same reasons. (See links for NASA math on cylinders and the Wikipedia of baseballs.)
If you'd like to test or demonstrate this, you can easily. Spin-launch a cardboard tube, or two paper cups taped base-to-base, with an elastic string to make a toy Magnus Flyer. (Link)
The invention/idea here is simply that any cylindrical rocket body would glide back to Earth if spun properly. The glide ratio would depend on several factors, but should be better than a parachute, although less than a solid airfoil. The weight should be less than either.
The spin could be induced several ways, but the simplest is a drogue chute pulling a cord wrapped around the cylinder. Vanes, shafts and motors are all possible to start and to maintain the spin, and would take too long to describe. (Extending a flex shaft with a controllable propeller from each end, is one way.)
Steering is also possible a variety of ways, related to the spin mechanism. In guidance, a simple video camera could use the spin as part of its scanning function.
A spinning cylinder could be landed in water. A better landing area would be a field of stiffish bristles of a height roughly equal to the diameter of the cylinder--for a model rocket, grass would serve.