When I was in 3rd grade, I clearly remember my favorite two parts of every Friday. First, we read through our Weekly Reader on Fridays. I loved that! Another every-Friday activity was creating a take-home folder. The teacher (Miss Johnson) gave each of us a piece of manila paper, which we folded to make a folder. We then decorated it while she passed out corrected work from the week. All the papers went into the folder and were sent home. I would definitely NOT feel comfortable using instructional time that way, but the idea of putting all of the students' work together to send home is a good one.
A colleague of mine puts a packet together each week of corrected student work. He then sends the packet home with a cover sheet asking parents to look over the assignments. I plan to follow in his very organized footsteps this year. I've created a simple cover form to use, and you can get it by clicking here.