I suggest you use Rend24 (Aminet), which lets you record each frame of a lightwave animation, and lets you compose an anim for later playback, so that you get smooth, non stuttering playback.
I have used that setup about 15 years ago, and it worked.
BTW, I suggest you get rid of the flyer, it is a buggy piece of hardware that never performed too well (unlike its analog cousing, the Video Toaster). Even its own video compression VTASC is flawed, it has a sort of wavelet algorithm, and is lossy (you wont see pixelation but instead you will have signal noise). Add to that the fact it only works in NTSC, and that it demands lots of space and scsi harddrives.
If you still want NLE on the Amiga I suggest you either use the Vlab Motion/Toccata combo, or the high end Broadcaster Elite.