There is the principle and the practice.
Let's look at the principle. If you have two arms, each with mass $m$, and length $\ell$, we could restate your question as saying: "how, and how fast, do I have to move such arms to make my body lift off?". That's quite easy.
Assume you are holding your arms out sideways. Their center of mass is at $\ell/2$, and their total mass is $2m$. If you move your arms down rapidly, there will be a net vertical force on the rest of your body. Move the arms fast enough, and you will lift off:

Simple conservation of momentum says that if you move your hands down at velocity $v$, you are moving a mass of $2m$ down at velocity $v/2$ and so the net downward momentum is $mv$. In the absence of gravity, this would be compensated by the body moving up at velocity $V = \frac{m}{M}v$. However, gravity does play a role - which is why you have to move your arms fast if you want to get liftoff in this way.
To figure this out we have to remember that $F\Delta t = m\Delta v$ - the faster the change in momentum, the greater the force. In this case, we need to overcome the force on arms plus body: $F_g = (2m+M)g$. If we consider that you accelerate the arms from zero to $v$ in $\delta t$, then the velocity $v$ can be calculated from
$$(2m+M)g \delta t < m v\\
v > \frac{2m+M}{m} g \delta t$$
Putting in reasonable values for mass of arms 6 kg each, and rest of body 60 kg (lean athlete), you need $v/\delta t > 60 m/s^2$. It might not be humanly possible to get sufficient force from the shoulders to move the arms that quickly - although it's not hard to see that the force will be similar to the force needed to perform "the cross" - a very demanding gymnastics move (here demonstrated by Yuri van Gelder doing the L cross - requiring incredible effort from shoulders and abdomen):

The reasoning that this is the same force that would provide the lift needed for the body - but where the move as shown above is done statically, you would have to do this dynamically - so there would be not just force, but force and speed.
So while it is theoretically possible, I doubt it could be done practically.
Of course moving the arms in various ways can certainly help - I am traying to answer the question "can you lift off with just your arms". I know I couldn't...