Streaming Video From Computer to Computer

Is there a way for me to put a DVD into my Thinkpad, play it in WMP or something of the sort and tell it to "output" it in through the USB port so that my Desktop can "capture" it through USB as well?

If not is there another way for me to transfer a DVD from one computer to the other, so that I can transfer only select clips so that I will not have to convert the whole thing? Hope this is hardware section?

this is more software I tihnk. I dont know if what your trying to do is possible. But you can stream your movie from one computer to another. Im not sure about capturing. Use WindowsMediaEncoder for streaming.

Just network the two computers, share the DVD and play it on the other PC through the network.