This is great, and I'd love using it. What's the (if any) connection with WebRTC? And PPSPP is a pretty unfortunate choice of acronym... A Google search only unearths something about emulating a PlayStation Portable.
We're going to be discussing WebRTC & PPSP together at the IETF meetup next week in London. I see WebRTC as a browser technology atm, so effectively a potential PPSP client and seeder. PPSP's aimed squarely at one-to-many sharing, so maybe there's some cross-over for video conferencing, but I'm not too familiar with it to say for the moment.
BTW googling IETF acronyms isn't easy -- try UDP, TCP, HTTP... ;-).
The protocol's described here http://tools.ietf.org/html/draft-ietf-ppsp-peer-protocol and there's a corresponding tracker protocol that's not finalised either.
These are drafts and in theory can change at any point in time.