WP Video Lightbox is a WordPress plugin by Tips and Tricks HQ that allows you to embed videos on a page using lightbox overlay display. This plugin can be used to display images, flash, YouTube, Vimeo, iFrame etc in a lightbox overlay. The embedded videos can be viewed on iPhone and iPad too.
For video tutorial, screenshots, detailed documentation, support and updates, please visit: http://www.tipsandtricks-hq.com/wordpress-video-lightbox-plugin-display-videos-in-a-fancy-lightbox-overlay-2700
Download: http://wordpress.org/extend/plugins/wp-video-lightbox/
There is also a premium version of the plugin WP Lightbox Ultimate Plugin Demo with added features at: http://www.tipsandtricks-hq.com/wordpress-lightbox-ultimate-plugin-display-media-in-a-fancy-lightbox-overlay-3163