I have an iframe on the front page of a site. The iframe loads a .php page which has a rotator built with jQuery Tools Tabs. On the first tab, I use jQuery Tools Overlay to
Any "lightbox" preference?
If you are flexible, you could use Fancybox (v2.x) and achieve that effect like in this demo: http://picssel.com/playground/jquery/fancyboxFromIframe_16Jan12.html
In that page there are two iframes: the one on the left shows your current scenario while the one on the right the solution you are looking for.
UPDATE: use of jQuery.noConflict()
<script type="text/javascript" src="other_lib.js"></script> (mootools)
<script type="text/javascript" src="jquery.js"></script>
<script type="text/javascript">
$.noConflict();
// Code that uses other library's $ can follow here.
</script>