A more stripped down url should be
Code:
http://peer-stream.com/api/embedplayer/?id=plus2&e=1&width=650&height=400
The streams is RTMFP-based, so there's no chance to download it using rtmpdump.
PS: I don't know any application or library to handle rtmfp and the protocol is really weighty. I'll write a lib, when I have enough time (It'll take weeks
).