My research has led me to learn that Apple\'s media element handler is a singleton, meaning I can\'t have a video
playing while an audio
is playing in
You mention there is an existing Flash setup of the video - is it a an swf file, could you import it into a video/audio editing software and add an audio track on top?
Something like this: http://www.youtube.com/watch?v=J2vvH7oi8m8&feature=youtube_gdata_player
Also, if it is a Flash file, will you be converting it to an avi or like for iOS? If you'd have to do it anyway, there is your chance for adding an audio track.