Playing two videos in sync

We have a Flex application where we want to play two streaming videos, side by side, in sync. E.g. the first video may have a news clipping and second may have an anchor describing the events.

I have tried a number of approaches to implement this but haven't succeeded yet. The videos get out of sync in some or the other condition.

Have you seen any applications with two / multiple videos playing in sync - second to second? Do you have any ideas on how this can be done?

Here's a mind map of the logic I am using (click to enlarge). I am on Flex, VideoPlayer component.