Looks like Adobe has another trick up their sleeve. As the release of Adobe AIR 2.5 draws closer, engineers have had some time to devote to more ambitious elements that may or may not make it into the next build. One such feature is the so-called "FlashTime," which no doubt is a direct jab at Apple's iPhone, the first handset to feature two-way video chatting via a front-facing camera through FaceTime (what's that? Apple wasn't the first to have that!?).
Now functional in the newest version of AIR is camera, microphone, StageWebView, and NativeExtensions, all making functions that make P2P video chatting that much easier to get working on the platform. Check out a fairly lengthy demo below: