Adobe changed the packaging for Android in AIR 3.7. Android packages are now standard captive-runtime and the packager will warn you with something like this:
Note: the AIR SDK no longer supports packaging android applications for use with the shared Runtime.
The application has been packaged with a captive Runtime`
From the documentation (http://help.adobe.com/en_US/air/build/WS901d38e593cd1bac-4f1413de12cd45ccc23-8000.html):
Note: (AIR 3.7 and higher) By default, ADT packages a captive copy of the AIR runtime with your Android app. To force ADT to create an APK that uses an external runtime, set the AIR_ANDROID_SHARED_RUNTIME environment variable to true.
I have not tried to set that variable myself so I don't know if that actually enables you to package normally.