It's called "flying elbows" if you don't bring your elbows in. But I try to bring my elbows in these days, I lose most of of strength when I do so. So I think I would just keep practicing my old shooting form. Many NBA players have flying elbows, like Jason Terry.

__________________
"Look me in the eye. It's ok if you're scared. So am I. But we're scared for different reasons. I'm scared of what I won't become, and you're scared of what I could become. Look at me. I won't let myself end where I started. I won't let myself finish where I began. Look me in the eyes. I have something more important more courage. I have patience. I will become what I know I am."
-- Michael Jordan