There is so much fail in this thread.
The Touchpad is 1024x768 so 720p (1280x720) or 1080p (1920x1080) files are already overkill.
One option is to stream video, if possible which means that the file can be watched over wifi (remember there is a limit of how much throughput your wifi can handle so it may be choppy if you are streaming a high quality file untouched).
Another option is to stream it using a streamer that encodes it to conform to your wifi threshold and the TP resolution, or to conforming just to the TP resolution/file size limit but have an app that captures the encoded stream to watch offline (thereby not needing to conform to wifi threshold limits if you have such a high quality video file).
Remember that you still lose quality whenever you re-encode.
Unfortunately, if the internal filesystem really is FAT32 then you have to pick the options above or split.
No easy way out