Hi guys! I was wondering if it's possibile to create a web-client that can connect two users and then it sends their webcam stream to each other. This should happen without using Red5 or any other flash/media server.
What protocol can I use? What api etc...
Look at Jabber(XMPP) protocol. Depending on the the web framework you select, clients are available in most major languages.
No. It's not possible to do what you describe.
You'll either need some form of server in the middle, or you'll need to build an ActiveX control or Browser Plugin to handle your communication.
Flash and Java are not options, because they are specifically limited to communicating only with their server of origin.
Flash 10 introduces a peer-to-peer model. Here's a post on it:
http://justin.everett-church.com/index.php/2008/05/23/astrop2p/