As a follow up to my last post, I wanted to give a quick update.
As it turns out, I ended up writing a php5 Zend module to wrap up some functions I use to access v4l2 devices. I have to say that writing a php5 module was pretty straight forward. Big thanks to the Extension Writing tutorial I found, which was well written, and did not leave me with any questions.
I was able to get the module ready in a few hours, and spent the rest of this morning cleaning it up and tweaking it a bit.
Now I'm completely able to read my v4l2 devices and mjpeg stream them from my PHP script :)