Interesting idea but for the file size issue would it not be more effective to have Alice/Cheshire.the curved frame in flash as pictures and the falling red.black as an imported movie and then publish that as Flash ?
Flash would compress the audio and video itself to a much smaller file size (If I'm correct).
Well what comes to mind is Alice/Cheshire/the cards and the black with the curve in it to the left all as pictures in flash moves/tweend to move around... I'm fairly sure Flash can import movies of one format or another (never had to use it myself) set that as your background and Flash takes Wav audio and converts it down, My flash pieces for their size have LOADS of layers and about 1 min of music each.. they are all I think under 1 meg in size.
My thoughts anyway and none of that shold be to hard