You are also able to generate a stream through multiple interfaces though I couldn't find how. Still, it is officially reported as being possible.
https://www.videolan.org/streaming-features.html
Yeah, I know about RTPM, but what I meant was more akin to streaming the file itself.
Take for example, me and my friends want to watch a movie. One of us has the movie. We all have VLC. The one with the movie loads the file, the others... Somehow... Connect to the VLC with the loaded file and have it directly stream to their own VLC.
I dig a little and there is an option on the GUI to easily stream.
On the media menu, there is a stream option (CTRL+S) which allows you to stream a file using the interface you want. It will create a server and it's up to you to make that server available to your friends (port forwarding). They will the open your video from a network interface link.
Though, while I did manage to stream between two instances of VLC on the same machine. It was after many attempts and I did not have any sound.
Not incredible, I will admit, but I'm quite confident it can work well once you understand what parameters to use.