Using separate Flash video control components instead of a skin.
Doing a preview image of the video that disappears when you click play. 

theVideo.playPauseButton = player;
theVideo.seekBar = seeker;
theVideo.muteButton = muter;
   
// theVideo.preview = "previewImage.png";
   
stage.addEventListener(Event.ENTER_FRAME, hidePreview);
   
function hidePreview(ev:Event):void
{
    if (theVideo.playing == true) 
    {
       previewOfVideo.visible = false;
    }	
}