Is it possible to run emulator from IC? and how? I have an Emulator and Roms I would like to create a portable device to allow me to connect via RCA to a TV and play. Only I have no prior knowledge of how Integrated Circuits function or what they are capable of. If a IC would work, how does one go about programming one to load up the emulator? What other components aside from RCA and USB would I need? Any direction with this would be great and sorry in case I am not asking the proper questions.

I figured arduino is similar to what I am building in regards to circuitry/ electronics. Thanks in advance. 

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Not a chance, I am afraid.  The Arduino cannot do what you think it does.

Yes, you could program the Arduino to act like some of the simple old video games, but there is no way it can run a pre-existing emulator program like your computer can.

You need something more like a Raspberry Pi - in fact there is an interesting project that might be just what you want: RetroPie