How to stream video from one device to other?
You can use IP Webcam, or perhaps use DLNA. For example Samsung devices come with an app called AllShare which can share and access DLNA enabled devices on the network. I think IP Webcam is your best bet, though. You should be able to open the stream it creates using MX Video player or something like that.

Source: https://stackoverflow.com/questions/14401340/live-stream-video-from-one-android-phone-to-another-over-wifi