This really isn't something Django can do out of the box, but if
you're looking to get simple video streams integrated into your site,
then perhaps consider using LiveStream embed instead?
If you're looking to create your own service, then unless you are a
skilled programmer with experience in multiple languages/frameworks
then you're gonna find this extremely difficult, as you have a ton of
other components which would need to be included and a variety of
technical challenges to overcome.
Previously I worked on a similar project which used Flash fallback for
encoding when WebRTC wasn't available, there are all sorts of weird
edge cases due to browser bugs, including 100% CPU bugs when encoding
streams above 720p in Chrome (which has been outstanding for 2 years).
For flash fallback, you also have to implement IPC between Flash and
JS because you would only want to offload rendering and RTMP to flash,
not the entire interface. I might consider open sourcing this part of
the code if there is interest for it.
Then you have to consider the backend, handling video streams is an
absolute pita and most streaming solutions have poor performance or
leak memory. There are some out of the box streaming servers such as
Wowza, or the awful FMS (stay away from this, seriously), then you
also have to consider bandwidth usage, distributing load, handling
spikes, preventing DoS, mitigating DDoS.. You could look at using
Zencoder live transcode but this isn't cheap by any means (and for
good reason).
If you're looking for a fantastic learning experience, then try
building your own. If you're looking to just get something working,
use LiveStream embed :)
Hope this helps
Cal