Android - Audio streaming over limited-area networks

An Android application to set up small-range networks to stream audio real time to partner devices. The application would consist of a core streaming component which would be re-usable and a component which would use it to provide various services to the user. For example:

1. To stream audio real time to enable partner devices to play it
2. To stream audio to partner devices and enable playback from all of them at the exact same instant in order to create a loudspeaker effect. As an addition could enable different devices to play different parts of the sound spectrum using an equaliser, and when strategically placed would try and replicate a surround effect.
3. Any other use one may think of

Obviously the application would also need to consist of a component which would run on the client phones, i.e. the phones receiving the streaming audio.