I would really like this feature built as well.
The way I see it, alt+left/right should step through the history, shift+alt+left/right will allow you to select while you jump.
The jump will try to go in blocks, i.e. if I moved down three lines quickly, one press will go up three lines.
@guillermooo: I'll have to look into the bookmarks, but this feature would be a better fit for a lot of things (for basic editing, you're not going to define a bookmark).