I am trying to capture the microphone and send the recording to my server.. I tried this method here but it records only a big WAV and the upload can be slow sometimes.
Hey check out this post where i replied to a guy with a similar question as you.
How do I embed a Flash audio recorder in my site
i dont know about client side compressing (i have looked into it before and couldnt find anything). But i know you can severely reduce the size of the file by limiting the rate of recording via these numbers here, where if i recall correctly 16 is 16khz recording
recorder = new MicRecorder(wavencoder,null,50,16);
also sending to the server is not that hard, just look up how to post data, because the wav file is essentially binary data
You can compress the file on the clientside using libmp3lame.js: https://github.com/akrennmair/libmp3lame-js
There is already a gitHub project that uses this library to record audio and save it in MP3 format directly in the browser:
https://github.com/nusofthq/Recordmp3js