As chip multiprocessors scale to a greater number of processing cores, on-chip interconnection networks will experience dramatic increases in both bandwidth demand and power dissipation. Fortunately, promising gains can be realized via integration of radio frequency interconnect (RF-I) through on-chip transmission lines with traditional interconnects implemented with RC wires. While prior work has considered the latency advantage of RF-I, we demonstrate three further advantages of RF-I: (1) RF-I bandwidth can be flexibly allocated to provide an adaptive NoC, (2) RF-I can enable a dramatic power and area reduction by simplification of NoC topology, and (3) RF-I provides natural and efficient support for multicast. In this paper, we propose a novel interconnect design, exploiting dynamic RF-I bandwidth allocation to realize a reconfigurable network-on-chip architecture. We find that our adaptive RF-I architecture on top of a mesh with 4B links can even outperform the baseline with 16B mesh links by about 1%, and reduces NoC power by approximately 65% including the overhead incurred for supporting RF-I.