How to replace video player

Hello, I would like to learn how to change the default video player with something like flowplayer or JW player.

I was thinking on removing the video shortcode handler and replacing it with my own function to wrap the url inside the custom player. Something like:

remove_shortcode(‘video’);
add_shortcode(‘video’, ‘wrap_video_shortcode’);

Is there some other way?

Also, could I have multiple players to choose from in the media embed dialog, the one with player, url, attachment page…

Thanks!