Dad tossing toddler in the air.

It drives me crazy! I definitely let my 18 month old get dirty, climb and run. I don't mind letting him experience a little danger (of course within reason), but I get major anxiety seeing his dad throw him within inches of the ceiling. I have told him not to do it and even said just don't do it around me, but he still does it saying all dads do it. Should I lighten up or are my anxieties legitimate?