Yes you can. The fomat is called a miniDVD or cDVD. It will not play in a set top player as of yet, but it will play on computers equiped with a software DVD player. Beware though. The computer must have a 10x CD-ROM, +300mhz P3 or Celeron, and a high end video card. Most common business machines choke on the cDVD's I have made.
To make a cDVD you need DVD creation software such as that produced by Sonic Solution. This is pricey stuff compared to the value of Video Factory and you need edit software such as Video Factory to prepare the media for the DVD creation software. Just a note, other than Sonic Solutions I do not know of many companies who's software supports creation of the cDVD format.