I am trying to stream a 200MB video file from Google Drive. I have already tried embedding a 24MB file that was shared public to everyone and this worked:
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I don't think you can directly, but there are services like www-drv.com which act as a proxy and let you expose Google Drive, or OneDrive, content.
I have some concern re their service as the FAQ is a little unclear how much access to the GDrive/OneDrive they require, it's not obvious if you have to let them access from the root down (which would be a no-go for me) or if you can select a single directory (and sub-directories). I'd emailed them in the past asking for clarification but no response ... just wanted to include that caution.