1. Get a webcam
2. Get VLC from Videolan.org (Windows, Mac, and Linux)
* if using Ubuntu type the following: sudo apt-get install vlc
3. Get ffmpeg from ffmpeg.mplayerhq.hu
* if using Ubuntu type the following: sudo apt-get install ffmpeg
* You can find Windows binaries for ffmpeg from Google
4. Capture your stills using VLC
* cvlc v4l2:// :v4l2-dev="/dev/video0" -V "image" --image-out-prefix img --image-out-format jpg --image-out-ratio 10 --v4l-fps 30
This means you'll save every 10th image from /dev/video0. You'll want to replace that with where ever your webcam is. It'll most likely be under /dev/video
5. Let your video run as long as you'd like (or until your hard drive fills up)
6. Stitch your images back together using ffmpeg
* ffmpeg -b 1800 -i img%06d.jpg video.mpg
After that you'll have a video named video.mpg that looks similar to the one above. You'll want to play with the number of images you grab with the image-out-ratio and you may want to explore varying the play back speed by taking a look at the options ffmpeg has to offer.
Although I had to figure out the VLC command by reading and just trying stuff, I found the ffmpeg command from: Catswhocode.com
It's also worth mentioning that I found a good article about extracting time lapse from a video. This sounds good for shooting video with my camcorder and then getting different types of time lapse from the video. You can find that article at: wp.pr0gr4gr4mm3r.com