We present new λ7 mm continuum observations of Orion BN/KL with the Very Large Array. We resolve the emission from the young stellar objects radio Source I and BN at several epochs. Radio Source I is highly elongated northwest-southeast, and remarkably stable in flux density, position angle, and overall morphology over nearly a decade. This favors the extended emission component arising from an ionized edge-on disk rather than an outwardly propagating jet. We have measured the proper motions of Source I and BN for the first time at 43 GHz. We confirm that both sources are moving at high speed (12 and 26 km/s, respectively) approximately in opposite directions, as previously inferred from measurements at lower frequencies. We discuss dynamical scenarios that can explain the large motions of both BN and Source I and the presence of disks around both. Our new measurements support the hypothesis that a close (∼50 AU) dynamical interaction occurred around 500 years ago between Source I and BN as proposed by Gomez et al. From the dynamics of encounter, we argue that Source I today is likely to be a binary with a total mass on the order of 20 M☉ and that it probably existed as a softer binary before the close encounter. This enables preservation of the original accretion disk, though truncated to its present radius of ∼50 AU. N-body numerical simulations show that the dynamical interaction between a binary of 20 M ☉ total mass (Source I) and a single star of 10 M☉mass (BN) may lead to the ejection of both and binary hardening. The gravitational energy released in the process would be large enough to power the wide-angle, high-velocity flow traced by H2 and CO emission in the BN/KL nebula. Assuming that the proposed dynamical history is correct, the smaller mass for Source I recently estimated from SiO maser dynamics ( ≳ 7 M☉) by Matthews et al., suggests that non-gravitational forces (e.g., magnetic) must play an important role in the circumstellar gas dynamics.