Yeah,b ut to be editing in the way I said and making it look real, a video shot taken by those sorts of digital cameras won't produce enough resolution or clarity.
You'd need a program that could open a video up, and add images into it within layers. These images would then have to be able to be squashed, scaled, and skewed to fit them over the video in the exact positions, and then be able to be modified and so animated with the video.
One program I know can do this very easily is Adobe After Effects. Used it in college, and it could do those sorts of effects, and could do that with not much work.