What weightlessness feels like on Zero-G planes

Since earths gravity is only negligible at around 120,000 ft, aren't you still under the full effects of gravity. Wouldn't that just be considered a variable approximation of gravitational parity during free fall? I'm not any sort of scientist, but this is my layman's understanding. edit: Piqued my curiosity, so I read up a bit, my concept of gravity/effect was rather off... pull is only affected by a small percentage relative to distance, not decreased TO that amount. So zero G is an illusion, as far as literalism is concerned, so it IS essentially perpetual free fall. Cool, old dog learning new tricks, thanks!