Import, overlay, and export large video

I want to import a large .avi video (without the sound), annotate at various points it in the Flash timeline with various words and graphics, then export it as an .avi movie. I would not be building a file to play in the Flash player. I’ve read all the cautions about embedding a lengthy video file in the timeline, but since I’m not going to be playing the result in a Flash player, many of the precautions don’t apply. Is this possible, and are there any limitations (such as time or number of frames) that I might run up against? My source video is about 45 minutes long.