I am trying to figure out how to add a custom control to the iPhone MoviePlayer. For an example of what I am trying to do see the following image.
I have not implemented ALMoviePlayerController but it seems to provide a succinct and sufficient solution to your problem.
From git repo:
"A drop-in replacement for MPMoviePlayerController that exposes the UI elements and allows for maximum customization"
https://github.com/alobi/ALMoviePlayerController