At the start of the Sunny Flights level (in the Artisan homeworld) there's an arch underneath the railroad track. Simply do a vertical loop around the first arch and you'll trigger the achievement:
You don't need to complete the level to do the achievement, so even if you fall into the water after doing the loop the achievement will still be activated.
You won't be able to do the loop normally (either by the mouse or analog stick), instead you'll have to use the vertical loop move. If you aren't sure what you have it set to, look at the Controls menu -- but by default is: R1 (Playstation), RB (XBox), E (PC).