I have a Bass Pro Shops Extreme Travel Rod. It makes a great light tackle rod. Breaks down into 3 pieces and comes with a crushproof PVC case. Case is about 31" and 2.75" diameter.
I've used it as carry on luggage and packed in my duffel bag that I checked. Have had no problems either way. I always carry the reel separetly in carry on baggage.
It is normally $99, but will occasionally go on sale for $60 on the internet.
Bass Pro Shops Extreme XPS Travel Spinning Rods