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I see this as being 2 sided. The server that controls the cam and the client that outputs the images/video.
I think the client side can be done using flash to read the video file from its stream. The server side however would need to be a program to operate the cam and deliver the stream either from the IP, or via a server. I'm no expert with flash or flex, but I think you will find the server part to be beyond their scope.