I have had a similar idea to that. I am far too tech-ignorant to know how to set it up but here are three things I would like to see in such an app.
1. Send an e-mail alert to whoever you choose to network with.
2. Live stream any video you send on a website set up for same.
3. Store a copy of everything on a remote and secure database.
I haven't personally used it, but the Dailymotion Cloud service would seem to be a good choice for video streaming and cloud storage using your phone.