package 
{
	import flash.display.Sprite;
	import flash.events.Event;
	import flash.events.NetStatusEvent;
	import flash.events.SecurityErrorEvent;
	import flash.events.TimerEvent;
	import flash.media.SoundTransform;
	import flash.media.Video;
	import flash.net.NetConnection;
	import flash.net.NetStream;
	import flash.utils.Timer;

	public class NetConnectShare extends Sprite
	{
		private var videoURL:String = null;
		public static var connection:NetConnection = new NetConnection();
		public var stream:NetStream;
		private static var tim:Timer;
		private var muted:Boolean = false;
		private var previousPlayheadTime:Number;
		private static var pause:Boolean = false;
		private var currentVolume:Number = 1;
		private var cuePoints:Boolean = false;
		private var ASCuePoints:Array = new Array();
		private var intBad:int = 0;

		public var hasStream:Boolean = false;
		public var video:Video;


		public function NetConnectShare( _video:Video )
		{
			// set the output
			video = _video;
			// create listeners for connection
			connection.addEventListener(NetStatusEvent.NET_STATUS, netStatusHandler);
			connection.addEventListener(SecurityErrorEvent.SECURITY_ERROR, securityErrorHandler);
		}
		
		
		public function connect( _videoURL:String, _video:Video = null ):void
		{
			// set the source url
			videoURL = _videoURL;

			if (_video != null)
			{
				video = _video;
			}

			// create connection
			connection.connect(null);
		}
		
		
		public function switchPlayers( _video:Video ):void
		{
			trace("[switchPlayers]", "net" );
			// assign output and attatch stream
			video = _video;
			video.attachNetStream(stream);
		}


		public function playheadTime():Number
		{
			trace("[playheadTime]", "playheadTime" );
			if (stream)
			{
				return stream.time;
			}
			else
			{
				return 0;
			}
		}


		public function play( url:String ):void
		{
			trace( "[play] pause = false", "net" );
			// assign source and play stream
			videoURL = url;
			playStream();

			pause = false;
		}


		public function stop():void
		{
			trace( "[stop] pause = true", "net" );
			// stop timer and stream
			if (tim)
			{
				tim.stop();
			}
			stream.pause();
			pause = true;
		}
		
		
		public function pausePlay( e:Event = null ):void
		{
			pause = ! pause;
			trace( "[pausePlay] pause = " + String( pause ) + " isEvent = " + String( Boolean( e ) ) , "net" );
			//toggle pause / play and if pausing stop timer, if playing start or create timer
			if (pause)
			{
				trace( "[pausePlay] STOP " + String( tim ) + " pause = " + String( pause ) , "net" );
				if (tim)
				{
					tim.stop();
				}
			}
			else
			{
				if (tim)
				{
					trace( "[pausePlay] START " + String( tim ) + " pause = " + String( pause ) , "net" );
					tim.start();
				}
				else
				{
					trace( "[pausePlay] NEW TIM pause = " + String( pause ) , "net" );
					try
					{
						tim.stop();
						trace("[pausePlay] old tim ");
					}
					catch (e:Error)
					{
						trace("[pausePlay] old tim error");
					}
					tim = new Timer(500);
					tim.addEventListener(TimerEvent.TIMER, timeCheck );
					tim.start();
				}
			}
			try
			{
				stream.togglePause();
			}
			catch (e:Error)
			{
				trace( "[pausePlay] ERROR \n" + e );
			}
		}
		
		
		public function playOn( e:Event = null ):void
		{
			trace( "[playOn] pause = " + String( pause ) + " isEvent = " + String( Boolean( e ) ) , "net" );
			// make sure stream is pause and togglePause to play
			if (! pause)
			{
				if (tim)
				{
					trace( "[playOn] START " + String( tim ) + " pause = " + String( pause ) , "net" );
					tim.start();
					stream.pause();
					try
					{
						stream.togglePause();
					}
					catch (e:Error)
					{
						trace( "[pausePlay] ERROR \n" + e );
					}
				}
				else
				{
					trace( "[playOn] NEW TIM pause = " + String( pause ) , "net" );
					stream.pause();
					try
					{
						stream.togglePause();
					}
					catch (e:Error)
					{
						trace( "[pausePlay] ERROR \n" + e );
					}
					tim = new Timer(500);
					tim.addEventListener(TimerEvent.TIMER, timeCheck );
					tim.start();
				}
			}
		}


		public function seek( num:Number ):void
		{
			trace( "[seek]", "net" );
			stream.seek( num );
		}
		
		
		public function set volume( num:Number ):void
		{
			trace("[volume]", "net" );
			var sT:SoundTransform = new SoundTransform(num);

			stream.soundTransform = sT;
			currentVolume = num;
		}
		
		
		public function get volume():Number
		{
			return currentVolume;
		}
		
		
		public function mute( e:Event = null ):void
		{
			var sT:SoundTransform;
			// toggle mute
			if (muted)
			{
				sT = new SoundTransform(1,0);
				stream.soundTransform = sT;
				currentVolume = 1;
			}
			else
			{
				sT = new SoundTransform(0,0);
				stream.soundTransform = sT;
				currentVolume = 0;
			}
			muted = ! muted;
			trace("[mute] "+ String( muted ) , "net" );
		}
		
		
		public function isMuted():Boolean
		{
			return muted;
		}
		
		
		public function get source():String
		{
			return this.videoURL;
		}
		
		
		public function set source( _videoURL:String ):void
		{
			videoURL = _videoURL;
		}
		
		
		public function addASCuePoint( _time:Number, name:String ):void
		{
			var tArr:Array = new Array();
			// add cue point as multidymentional array
			// [ timeOfCuePoin, nameOfCuePoint, hasCuePointBeenPassed ]
			tArr = [_time,name,false];
			cuePoints = true;
			ASCuePoints.push( tArr );
		}
		
		
		public function get bytesLoaded():Number
		{
			return stream.bytesLoaded;
		}
		
		
		public function get bytesTotal():Number
		{
			return stream.bytesTotal;
		}
		
		
		public function get totalTime():Number
		{
			return stream.client.duration;
		}


		public function reConnectStream():void
		{
			trace( "[reConnectStream]", "net" );
			stream = new NetStream(connection);
			stream.addEventListener(NetStatusEvent.NET_STATUS, netStatusHandler);
			stream.client = new CustomClient();
			video.attachNetStream(stream);

			playStream();
		}


		// Private Methods
		
		private function netStatusHandler(event:NetStatusEvent):void
		{
			switch (event.info.code)
			{
				case "NetConnection.Connect.Success" :
					connectStream();
					break;
				case "NetStream.Play.StreamNotFound" :
					trace("Stream not found: " + videoURL + "\n" , "net" );
					break;
			}
		}


		private function securityErrorHandler(event:SecurityErrorEvent):void
		{
			trace("securityErrorHandler: " + event);
		}


		private function connectStream():void
		{
			trace( "[connectStream]", "net" );
			if (! this.hasStream && videoURL)
			{
				trace("SNAP "+ String( hasStream ) +" "+ String( videoURL ), "net" );
				this.hasStream = true;
				stream = new NetStream(connection);
				stream.addEventListener(NetStatusEvent.NET_STATUS, netStatusHandler);
				stream.client = new CustomClient();
				video.attachNetStream(stream);

				playStream();
			}
		}


		private function playStream():void
		{
			trace("[playStream] pause = false", "net" );
			intBad = 0;
			stream.client.metaRec = false;
			stream.play(videoURL);
			pause = false;

			tim = new Timer(500);
			tim.addEventListener(TimerEvent.TIMER, timeCheck );
			tim.start();
		}


		private function timeCheck( e:TimerEvent ):void
		{
			trace("[timeCheck] pause = " + String( pause ), "net");
			var i:uint;
			var myPlayheadTime:Number = this.playheadTime();

			// end video if at or beyond the meta data duration
			if (stream.client.metaRec)
			{
				if ( ( myPlayheadTime >= stream.client.duration ) )
				{
					trace("MetaRec: " + "\n", "net" );
					stream.client.onPlayStatus();
					stream.close();
					this.dispatchEvent( new Event ( "videoPlayComplete", true ) );
				}
			}

			// end video even if onPlayStatus does not fire
			if (myPlayheadTime == this.previousPlayheadTime)
			{
				if (! pause)
				{
					++intBad;
					if (intBad > 8)
					{
						trace("intBad: pause = " + String( pause ) + "\n", "net" );
						stream.client.onPlayStatus();
						stream.close();
						this.dispatchEvent( new Event ( "videoPlayComplete", true ) );
						intBad = 0;
					}
				}
			}
			else
			{
				intBad = 0;
			}
			this.previousPlayheadTime = myPlayheadTime;

			// check if passed cue point and if so fire event
			if (cuePoints)
			{
				for (i = 0; i < ASCuePoints.length; i++)
				{
					if (! ASCuePoints[i][2])
					{
						if (this.playheadTime() > ASCuePoints[i][0])
						{
							this.dispatchEvent( new Event ( ASCuePoints[ i ][ 1 ] + "CuePoint", true) );
							ASCuePoints[i][2] = true;
						}
					}
				}
			}
		}
		
		
		public function get paused():Boolean
		{
			return pause;
		}
	}
}

/*
import common.utils.Loggit;

public class CustomClient
{
	
	public var duration:Number;
	public var width:Number;
	public var height:Number;
	public var metaRec:Boolean;
	public var cuePoints:Array = new Array();
	
	
	public function onPlayStatus(info:Object = null ):void
	{
		trace("onPlayStatus: code=complete" + "\n", "net" );
	}
	
	
	public function onMetaData(info:Object):void
	{
		trace("metadata: duration=" + info.duration + " width=" + info.width + " height=" + info.height + " framerate=" + info.framerate + "\n", "net"  );
		// assign returned meta data
		duration = info.duration;
		width = info.width;
		height = info.height;
		this.metaRec = true;
	}
	
	
	public function onCuePoint(info:Object):void
	{
		trace("cuepoint: time=" + info.time + " name=" + info.name + " type=" + info.type + "\n", "net"  );
		cuePoints.push( [ info.time, info.name, info.type ] );
	}
}
*/

This can be used to help load, play and monitor playback of external video.

AS3 NetConnectShare Class

video, Net

ActionScript 3