Video Control during playback

Can someone confirm if this is possible and point me in the right direction for how to make it work. I'm working on a PseudoTV skin and what I want to be able to do is show a small video screen of the currently playing video while browsing the guide. I looked into Videocontrol but it seems like that may only apply to the GUI. Below is an example from DirecTV of what I would like it to look like, essentially you would click the enter key to bring up the Guide and the video would play in the upper corner.