The saying originated in the movie top gun, when Maverick requests a fly-by, and is denied by the commanding officer.
It was later quoted by David Spade in a 7-up commercial, and has also been used in a few other less reputable media segments.
Basically, it just means no. The phrase Ghost Rider eludes to the pilot's alias, and is an illusion to the comic book character Ghost Rider (though I don't think that is significant).
Can I have pickles on that sub?
That's a negative Ghost Rider.