I've seen the idea proposed before. I think the general idea is that the ship technically doesn't move, you just move the universe around it. If you can imagine having a rock in a sock and then holding the rock still and moving the sock around it. you can get the rock anywhere you want it by moving the sock around.
I don't know if it's possible to do that with the universe, but either way, you'll need a hell of a lot of energy to really try it.
http://en.wikipedia.org/wiki/Heim_theory makes a bit more sense as a theory that allows for hyperdrive.
http://space.newscientist.com/article/mg18925331.200.
I like the Heim theory better because it has predicted masses of a few particles pretty accurately.
But being that I'm not trained in any of this, I'll leave it to the experts.