Its possible, I'm not exactly sure how, but a friend of mine did this before to record and broadcast a live performance. From video camera/digicam hooked up to laptop and some software to stream it into the server/internet.
And Ofcourse, a stable with fast upstream connection for the laptop is needed.
I'm not quite sure how it's done, but I would contact Vito from http://demodemo.com . He's recently worked with a site to provide live news on it, and I'm sure he would be able to work with you if it's done similarly.