It would be great if a live stream could be done with a chat box off to one side but that is probably asking the impossible.

Adobe flash media encoder is free and could work to achieve setting up the video for a live stream it is a problem perhaps finding a service to host it would be the main barrier.

But I will suggest a spoiler thread be set up for peoples reactions and discussion.

How much pausing and rewinding on a first watch will you do not to mention watching something again and again after finally watching it all the way through undisturbed. So you could treat it as a race of who will get to the end of the movie first.