I would say it is possible, but it would not
be very easy to add items that play video in RadCarousel, since is a pure WinForms component.
In your case I would suggest using our WPF version of the carousel, that was just released RadControls for WinForms beta 2
Nevertheless, if you are interested in a true WinForms solution for this task, please let me know and I'll hand over some suggestions.
All the best,
the Telerik team