Recording a live stream with Action Script

sup /prog/

i'm looking for a way to record a live video stream on the client side, preferably with action script 3
basically i just want to make to create a file with what the client would see
would Stream.get(streamname) work?

for school we're working together with a local company that needs a software that we're programming
they record video, stream it to us, we record the stream, add timing information for a second data stream (like... the ranking or timing information at a sport event), and then we stream it to a streaming server

alternatively... is there a automated way to record a stream with VLC? is it still free if i use it comercially?

they record video, stream it to us, we record the stream, add timing information for a second data stream (like... the ranking or timing information at a sport event), and then we stream it to a streaming server

What the hell are you doing that for?