Video coding question

Hey guys,
I’ve been looking at this forum for a while, and this is my first post.

I am calling an FLV, progressively downloading, and I want to display the time of the video. I can get the time to display in milliseconds, but I can convert it to min:seconds. I think I have the code very close, but any help would be fantastic!

var listenerObject:Object = new Object();
mainVideo.playheadUpdateInterval = 1000;

listenerObject.playheadUpdate = function(eventObject:Object):Void {
now.text = eventObject.playheadTime;
};
mainVideo.addEventListener("playheadUpdate", listenerObject);

//Converting time to seconds.....
var minutes:Number = 0;
var seconds:Number = 0;
this.onEnterFrame = function() {
  minutes = Math.floor(eventObject.playheadTime / 1000 / 60);
  seconds = Math.floor(eventObject.playheadTime / 1000) % 60;
  now.text = minutes + ":" + seconds;
};

mainVideo.contentPath = "testVid.flv";

//controls...
mainVideo.playPauseButton = mcPlayPause;
mainVideo.volumeBar = mcVolume;
mainVideo.seekBar = mcSeek;

Thanks!