How are you going to define this path? You going to have to create a parabollic curve that is a physics representation of what should happen to the ball. So how are you going to create this path yet alone follow it?
I can understand and I would have expected you not to want the standard behaviour on collision with a players hands. So on collision with the player you can set the trajectory to where you want it to go.
You have two choices really in all of this.
Use the existing physics engine, tweaking it to your needs or create a new one. Seems for what you are trying to do I would use the existing one.