stream encoder and stream player

I want to create 2 simple applications using [login to view URL] ([login to view URL]) One is for stream encoding to a streaming server. The other one is for stream playing from a streaming server. The first should encode live from line input of soundcard. Should have a vu meter for input levels. Also can use winamp dsp pluggins (like compressors). The second should have the option to play music from a folder in case the stream is lost (aftef x seconds) and play again the stream when it comes back. Also should adjust the streaming buffer from 1 sec to 60 seconds.