the first instance receives mjpeg stream from an axis ip camera:

vlc http://172.16.127.162/mjpg/video.mjpg --video --no-sout-audio --sout '#std{access=mmsh,mux=asfh,url=:3128}' -v --color

the second one recodes the stream generated by vlc (looks like axis stream has wrong time indexes, vlc fails to encode it in "one pass"):

vlc mmsh://172.16.127.17:3128 --color --sout '#duplicate{dst="transcode{venc=ffmpeg,vcodec=MP42,vb=3000,hurry-up}:duplicate{dst=standard{access=mmsh,mux=asfh,url=:2001},dst=standard{access=http,mux=asfh,url=:3001}'  -vv