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Session (Tokens) - Think of a session as a room a user will connect to. People in that room can either be showing their own video (Publishing) or watching other people’s video (Subscribing) or both. Everyone that walks into that room needs a token to get in. The token describes their permissions. Subscribers are allowed to watch video, Publishers are allowed show video, and Moderators are allowed to kick people out.
Connection - Whether a user is just watching (subscribing) or actually publishing, they need a connection. Creating a connection is done by calling session.connect() on the client-side.
Stream - A stream represents the video of an individual publisher (unless you explicitly ask for it to be multiplexed). You find streams in two places: the event object passed to your sessionConnected handler (when the client starts his own connection), and the event object passed to your streamCreated handler (when others join the session you are connected to).
Decide on your interaction. Are you building One-to-One, One-to-Many, Many-to-Many, etc?
Write your client-side code (Javascript or Actionscript) first. All the moving parts are down on the client. Feel free to use the sample session and token from Basic Tutorial to test this portion. There is also plenty of sample code you can find in the Tutorials section that you can grab and manipulate for all the API features.
Plug in your server side code. There are only two operations you typically do on the server-side: generating sessions and generating tokens. Download one of our libraries or check out the community contributed code for more.