If your school has the ilos x Blackboard Building Block Integration, the ilos application will live in every course for every faculty member.
To embed a video in Blackboard, simply go to any page with a rich text editor within a Course and click on "Media Mashups." You will then have the option to search for a video and embed it.
Here's a quick video on how it works:
Note: If your school does not have the Blackboard Building Block Integration, contact your IT department to have them set it up with this easy installation process. In the meantime, you can still embed a video using this method