Video in slider, instead of slider or below slider?

Hi,

I would like to be able to do one of the following (in order of preference).

1. Update the slider to allow videos to be placed instead of pictures - ideally keeping the text overlay and links that people can click on to go to a page, or
2. Replace the slider with a video - ideally keeping the text overlay and links that people can click on to go to a page, or
3. Place a video below the slider

The video I would like to use is here:

Can you let me know if that is possible and, if so, how can do that?

Thanks!!

Barry