Not sure if I understand your question. I want to watch what is being recorded on the camera that is on the bottle rocket in real-time. Real-time as in when the rocket is 50 feet in the air after 1 second, I want to see this with my own eyes speculating the rocket from a distance as well as seeing what it looks like from what the camera on the bottle rocket that is sending at the same time. I understand that there may be a slight delay in this transmission but I want it to be near the same time (real time, live, stream, or any non-english words that can express what I am envisioning). So I want to watch the bottle rocket move by watching through an lcd screen, laptop or other portable screen and also quickly glance at the rocket with my own eyes as it moves with respect to time. Does this answer your question?
Thanks, I will have to look into security transmitters. I have looked through numerous rocket and remote control hobby sites and forums and a lot of hobbyists use the eye goggles which are fairly pricey. I would like to constrain my project to the mini lcd.
I believe I found a video adapter on NewEgg called the Dazzle: