Hi Jake,
Yes it’s possible, the only problem is the encode that’ll be necessary to convert MJPG to H264.
This is an example of how to create a gstreamer pipeline from MJPG to H264.
gst-launch-1.0 -v v4l2src device=/dev/video0 ! image/jpeg,width=1280,height=720,type=video,framerate=30/1 ! jpegdec ! videoscale ! videoconvert ! x264enc tune=zerolatency ! rtph264pay ! udpsink host=192.168.1.146 port=5600
Try to read more about gstreamer and figure out the best configuration for your camera.
Note: the encode process will use 100% of the cpu and may result in a unstable system and low fps.
Also, take a look here: