A number of existing or proposed features for the Web platform deal with continuous real-time media - w3.org 
The MediaStream Processing API will allow complex buffering, and multitrack layering of dynamic mixes of streams.
It may be best to implement the functionality in something like Livecode, Max MSP or Pure Data until we have a proper specification of the desired functionality.
In particular it would be good to integrate this functionality with an advanced 3D Sound library for the purpose of making mobile apps and the Sound Garden installation.
# HTML media elements - **Synchronization** of multiple HTML media elements - **Capture and recording** of local audio and video input - **Peer-to-peer streaming** of audio and video streams - **Advanced audio APIs** that allow complex mixing and effects processing
# See also
- Web Audio API
- Getting started with Web Audio Api - html5rocks.com
- w3.org
- developer.mozilla.org
- MediaStream Processing API
- SoundCloud Plugin
- Free Music Archive