Flash :: Add Abilities To The JW Player (and Customize It)?

I want to create a custom video player.I already have implemented the default player to play my streamed movies from Amazon S3 and my goal is to : customize completely the skin of the player add new abilities to the player like add text, images, drawings on the video at some cue points.make the player interact with javascript and forms using json for encapsulate the data.A "creator" want to add some text and a drawing on a movie (duration 4:00)He seek 1:30 and add a red bold text label: "Watch this carefully !"He seek 2:05 and add a white rectangle with 50% of opacity to overlay something.The player send json data to javascript.The "creator" submit the form and json-data are inserted in the database.In the frontend, some user play the video and see the text at 1:30 and the drawing at 2:05.What is the best way to customize the player in this case: Create a plugin ? Create a new player extending the JW Player ?