Its a question thats never been asked before and TBH Ive never heard of anyone on here doing this so if your the first I would really appreciate any photos of the areas you manage to camp in, this would be amazing to see.
Ive done some digging for you, their is a climbing group that Im sure would be able to answer these questions for you, they can be contacted by email on firstname.lastname@example.org
I also came across some guys on a camping forum that have actually done the wild camping and walking last year give them a go..... http://www.bushcraftuk.com/forum/showthread.php?t=108993
Again please get back to us and let us know how you got on, some photos or if you dont mind a review would be amazing.
Ive done a bit more digging and apparently wild camping is not allowed and their is not many official campsites around read the following http://www.alcudiamallorca.com/en/alojamiento/campings-and-youth-hostels.html
Along walk ways their is small hostels see more about this here http://www.seemallorca.com/activities/walking.html
But I have read lots of people camping out wild and no one seems to bother them http://chrisonhiking.com/2011/03/walking-the-serra-tramuntana-in-mallorca/
More reading and info for you
If your on facebook their is a great page called Mallorca Hiking I would go to that first as you can chat with others on the wall and share info..... https://www.facebook.com/pages/Mallorca-Hiking/146312648744104
Lots of reading and links for you, hope this helps.