I guess I just jumped the gun on this one, but I found a working solution with some browsers using VLC Web Plugin:

    <!-- VLC Web Plugin in works! (for some browsers...) -->
    <embed type="application/x-vlc-plugin" name="video1" autoplay="no" loop="yes" width="400" height="300" target="" /> 
    <br /> 
    <a href="javascript:;" onclick='document.video1.play()'>Play video1</a> 
    <a href="javascript:;" onclick='document.video1.pause()'>Pause video1</a> 
    <a href="javascript:;" onclick='document.video1.stop()'>Stop video1</a> 
    <a href="javascript:;" onclick='document.video1.fullscreen()'>Fullscreen</a>

NOTE:  It plays standard ratio (not HD).  It's also a bit laggy.