AS3 - Por um vídeo no Flash

import fl.video.VideoEvent;
import fl.video.*;

var nc:NetConnection = new NetConnection();
nc.connect(null);
var ns:NetStream=new NetStream(nc);
ns.bufferTime=3;
ns.addEventListener(AsyncErrorEvent.ASYNC_ERROR, asyncErrorHandler);
ns.play("meu_video.f4v");
function asyncErrorHandler(event:AsyncErrorEvent):void {
// ignore error
}
var vid:Video = new Video();
vid.attachNetStream(ns);
//vid.setBufferTime(3);
vid.x=0;
vid.y=0;
vid.width=640
vid.height=480

painelVideo.addChild(vid);

//EVENTOS DO VIDEO

ns.addEventListener(NetStatusEvent.NET_STATUS, statusHandler);
ns.pause();
function statusHandler(event:NetStatusEvent):void {
//texto.text="status="+event.info.code;
trace(event.info.code)
switch (event.info.code) {
case "NetStream.Play.Start" :
trace("Start [" + ns.time.toFixed(3) + " seconds]");
break;
case "NetStream.Play.Stop" :
trace("Stop [" + ns.time.toFixed(3) + " seconds]");
videoStop()
break;
case "NetStream.Buffer.Empty" :
texto.text="carregando stream, aguarde...";
break;
case "NetStream.Buffer.Full" :
texto.text=" ";
break;



}
}

videoTocando=fakse;

function videoPlay() {
videoTocando=true;
ns.seek(0);
ns.resume();
painelVideo.visible=true;
}
function videoStop() {
if (videoTocando==true) {
videoTocando=false;
atracoesTimer.start();
ns.seek(0);
ns.pause();
painelVideo.visible=false;
}
}

Usei um componente de FLVPlayback na biblioteca.