I’m not sure I fully understand that. Is your CMS limited to 2M file size uplolad? If so you most certainly can and should adjust that How do I upload files bigger than 2MB / How can I increase the upload file size limit?
You could do the very same thing in Xibo itself, ie upload video have 3 regions on the layout 2 with text 1 with video.
While that’s still what I would recommend, I would also expect those videos in an embedded form to work - perhaps better in localVideo module with fully qualified path to the file though.
As I mentioned it would be much more feasible to just upload the videos to CMS.