The major problem is that you try to insert Flash stream URLs into Windows Media player. Why do you expect this to work? You need a flash player. And you need to learn how to find stream URLs with say Grab++ and then use them with a flash player.
Why spending hours onto this when you can just
outsource your project via a freelance marketplace? This will allows you to hire a professional from the U.S., Canada, India, Russia,.... And it won't be expensive at all.
If you want to learn this, you should start from the basics of HTML and Javascript.