Doesn’t require jailbreaking either.
One of the major annoyance of the iOS platform is its lack of Flash functionality, thanks to Steve Job0′s stubbornness on the matter. The only proper way to watch Flash content on the platform is to use the Skyfire browser, but that can be slow and clunky at times.
Here is how it can be done (thanks, BGR!):
1) Navigate to http://iosflashvideo.fw.hu/ in Safari on your iPhone, iPad or iPod touch
2) Hit the + button (replaced by the box/arrow icon on some iOS builds), select Add Bookmark and tap Save
3) Open your bookmarks and tap Edit
4) Choose the new iOSFlashVideo bookmark
I am compelled to put the sixth step as ‘profit’ with numerous exclamation marks, but respecting the website, I won’t. Anyway, once you have filed the bookmark, navigate to a page that uses a Flash embed like Blip.TV, open your bookmarks, tap the iOSFlashVideo entry and the page should now show a thumbnail with streaming enabled.
Let us know if that works out for you.