Maybe possible... (Score 1)

The problem isn't too hard if you are moving your camera sideways at an even speed since you could just use 1 frame for the left view, and a frame a short amount of time later for the right view. However, if the video camera is taking some unknown path then no 2 frames from the original video will in general create the correct parallax. Therefore, you would need to do a bundle adjust on the camera movement (computationally quite painful and not always reliable for arbitrary camera motion). Then comes the hard part of producing a close to 100% coverage dense 3D model at regular enough intervals to render new image frames with camera spacing and orientation to match human vision. Not impossible, but I think reliability of the currently available algorithms and computation time are the big problems.