Collabracam is a new app that allows you to use up to 4 iPhone or iPod Touch cameras for multicam shooting.

Features include:

  • Direct a multi-camera video production on any iOS device on Wi-Fi
  • Connect with up to four iPhone (4 or 3GS) or iPod Touch 4G cameras
  • Title your video for the credits with an optional copyright notice
  • View, record and edit streaming video on the fly, in real-time
  • Record from one camera while placing another camera on standby
  • Send camera move or angle cues to the camera operators
  • Save a session with automatically generated credits
  • Resume a saved session with the same crew or a different one
  • Export a “rough cut” movie in three sizes: 640×480, 480×320, 192×144
  • Export video clips to the camera roll to edit in a video editing app
  • Save video clips via File Sharing in iTunes to edit on your computer
  • Copy a session to maintain an original and create alternate endings
  • Delete a session to free up space for a new production

Here’s a review that shows the app in action, but also displays some of the limitations.