Well, if the computers are halfway decent, there's almost zero ping. So no lag, freezing, whatever.
You just get some buddies w/ computers and the game, find a hub, and network them together, get everyone on a map, and tell them what to do while you record it.
That's sort of what I did, cept my friends would never listen to me (it was at a regular LAN party, where we were just playing whatever we wanted), so I just got them on a BF2 map, recorded the session (doubt you can do that w/Commando, but it makes everything easier), and played it back while recording the good bits into a video-in camera, then uploading it back into the computer for editing.
FRAPS will do the trick without as much hassle, but it can cause a LOT of lag if the graphics are set high and the hard drive is slow, and it's usually restricted to a maximum of 30fps, though you usually want to hit it at half-resolution because it'll go faster that way, but won't look as good. I just use a camera because I can keep the frame rates high without any problems. Either way though, you have to watch how much hard drive space you have, especially at higher resolutions, or you'll run out of space, as the video is uncompressed as you're taking it.
I don't know how you can tell your hard drive speed without opening the machine up and reading the hard drive casing...does it freeze when you start using FRAPS?
"If you don't want me to eat you.....SAY SOMETHING."