Hello,
What about proper VideoStreaming app with QoS requirements and maybe JavaScript-PHP signaling (DB might keep a current state), so that it will be more friendly for system administrators, and be less scary that users will overuse it and eat whole bandwidth. Maybe one can think also about pricing for used bandwidth to administrator e.g. if someone streams over his free monthly limit he has to pay to admin some sum or so. Maybe it should also enforce password protection etc so it is not available on the internet, but only within group of friends.
I am thinking here about really proper production ready Video Streaming service