Displacement Maps?

I need some minds.

I have a project I’m working on at work and I want to do something similar to this site:

http://www.nike.com/jumpman23/m4/

See how the image distorts when you click the arrow left and right. The images get bigger as they leave the stage, giving the feel of a 3D shift.

I’ve been messing around with displacement maps all afternoon and I feel like I’m on the right track. I haven’t been able to get my ‘map’ to expand my ‘target mc’ (in nikes case, the guys,the shoe) on the Y axis. I want my mc to stretch Y based when it passes over the displacement map?

Any help?