LTC timecode

You can read some about it here:

It's basically timecode carried through an audio signal.

Now, getting the Arduino to generate timecode itself isin't a big deal. But I'd like to convert it into LTC, and that's where I have no idea where to start. Do I generate tones? Should I do something with PWM? I just have no idea where to begin.

What I mean by timecode itself is just a running timecode in the serial window or otherwise. By LTC I mean the audio signal itself.

Using an RTC is certainly an option, right now I'm just starting from nothing and would like to get this piece done first. I'm also aware that the timecode is synched to the camera, but in this application I'm looking to feed it to an audio program, not receive it, so exact camera sync doesn't matter. I'm trying for a smart slate that works in sort of reverse, by giving the TC to the DAT as opposed to jamming it from it.

I don't believe I've used so many acronyms in one paragraph before.

I understand the Arduino is too sloppy to keep this close sync over a while. However, for purely proof-of-concept, I'm going to work with it and see what I can do. I'll probably end up replacing the crystal with another or something else entirely. Can you steer me in the right direction for generating the waveform itself? I can't find much about doing it online.

I want my Arduino to read LTC, do you know how to do that?