Well, VLC itself can do streaming (in addition to playing back a number of different media formats), so you're already covered.
Depending on the size of your audience, you might want to employ a streaming server, though.
This could be Darwin Streaming Server for MPEG4/AAC or Icecast for Theora/Vorbis - the ones I'm familiar with.
There are of course others, but I'm not knowledgeable about any of them.
Could be that you should just define what you want to accomplish, then do some reading before you dive off the deep end - VLC is a rather complex piece of software, and can probably do what you want it to do, but its command line syntax somewhat bewildering.
Here's a couple of links to browse to get the big picture:
VLC Play Howto:
http://www.videolan.org/doc/play-howto/ ... to-en.html
VLC Streaming Howto:
http://www.videolan.org/doc/streaming-h ... to-en.html
Also, do a:
vlc --help