There are a couple options...
1. Get really used to good QT compression. Try Sor3, 25kb/s, 999keyframes, medium quality, IMA 4:1 audio @ 22k, mono.
2. You could actually reedit the entire thing, but leave it in chunks (that would play together, but are seperate) and then link them together using QT pro and having those who dload them be able to view them as a whole through a QT file that is really just codes telling it to play them all. This is kinda complex to deal with, but not that hard, really.
(Actually, I'm gonna try that quickly and see how it works

)
Catch me on AIM and we can chat.