A first year student? Unless you have eidetic memory and can speed read the entire Video Demystified book in a few days, you probably won't know enough after 4 months of study to do any kind of video processing on a video stream.
Most of the questions we get from first time users of FPGAs that are in school are about assignments given to them by their professors. These run the gamut from LED flahsers, digital clocks, waveform generators, and sometimes even something as complex as a digital filter.
I suggest going to somewhere like
this and try out projects that are smaller and will allow you to become familiar and proficient with VHDL/Verilog coding, the tools flow, etc.