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I dig a little and there is an option on the GUI to easily stream. On the media menu, there is a stream option (CTRL+S) which allows you to stream a file using the interface you want. It will create a server and it’s up to you to make that server available to your friends (port forwarding). They will the open your video from a network interface link.

Though, while I did manage to stream between two instances of VLC on the same machine. It was after many attempts and I did not have any sound.

Not incredible, I will admit, but I’m quite confident it can work well once you understand what parameters to use.

VLC support RTMP, streaming a live feed like twitch. https://wiki.videolan.org/RTMP/

VLC also support reading from network https://wiki.videolan.org/Documentation:Play_HowTo/Basic_Use_0.9/Opening_modes/#Opening_a_Network

You are also able to generate a stream through multiple interfaces though I couldn’t find how. Still, it is officially reported as being possible. https://www.videolan.org/streaming-features.html