解:$(2)① $∵$(a+\frac {1}{a})^2=20,$
∴$(a-\frac {1}{a})^2=(a+\frac {1}{a})^2-4=20-4=16.$
∴$a-\frac {1}{a}=\pm 4.$
② ∵$a^2+a-1=0,$易知$a≠0,$
∴方程两边同除以$a,$
$ $得$a+1-\frac {1}{a}=0,$即$a-\frac {1}{a}=-1.$
∵$(a+\frac {1}{a})^2=(a-\frac {1}{a})^2+4=(-1)^2+4=5,$
∴$a+\frac {1}{a}=\pm \sqrt {5}.$
$ ③ $当$\frac {1}{a}>0,$即$a>0$时,由$|\frac {1}{a}|-a=1,$得$\frac {1}{a}-a=1,$
$ $从而$a-\frac {1}{a}=-1.$
∵$(a+\frac {1}{a})^2=(a-\frac {1}{a})^2+4=(-1)^2+4=5,$
∴$a+\frac {1}{a}=\pm \sqrt {5}.$
∵$a>0,$∴$|\frac {1}{a}|+a=a+\frac {1}{a}=\sqrt {5}.$
$ $当$\frac {1}{a}<0,$即$a<0$时,由$|\frac {1}{a}|-a=1,$得$-\frac {1}{a}-a=1,$
$ $从而$a+\frac {1}{a}=-1.$
$ $而$(a-\frac {1}{a})^2=(a+\frac {1}{a})^2-4=(-1)^2-4=-3<0,$
故舍去.
综上,$|\frac {1}{a}|+a$的值为$\sqrt {5}.$