Video Blog Roll (or Archive List)

I would like to create a video blog page and emulate the video clips blog roll from the site.

Checkout the screenshot below:

I would like to do the following:

1. Create a similar video blog loop – this means a list of videos can be displayed and when clicked would play the video on the allocated area above.

2. Include a “Now Playing” alert or indication on the list to display what video (from the list) is currently playing.

Here’s the live site example:

I would really appreciate some help in leading me towards the right direction to build such a feature. Would you know of any plugins, apps or feature I can utilize to accomplish a similar functionality?