dude ... hate to break it to you but you're not going to get very far with making a big video via email
Hotmail has a little over a 1meg limit. A 4-5 minute video at 640x480 w/high compression will run you approx 6.8megs .. which would mean you wouldn't even be able to receive a single movie clip worth using in Hotmail; from a single user.
You need to find somebody will will loan you an FTP server to upload videos to, or use an IM. You can't use e-mail.
Also, another tip for your videos
you should find videos of the same resolution as the resolution you intend to make your final video. ie 640x480 or 320x240 etc. (if you're not sure about this, I can't help ya but you can find lots of info yourself on the net)
Hope this helps