Does anyone know if a 40.3GB iMovie file can be burned in iDVD?

I just created my first slideshow in iMovie. The big presentation of it is tomorrow night so I'm hoping to figure out a solution to this problem I'm experienceing. The slideshow consists of 415 pictures with Kens Burns effects and transitions between each of them and about 14 audio clips playing in the background. The total iMovie file is 40.3 GB. I have a 160 GB drive (148.73) so this 40.3GB is taking up a lot of space. I have just a few copies of earlier versions of the movie but they are much smaller. ( respectively 23.43GB, 15.31GB & 7.67GB)

I'm trying to burn the slideshow onto a DVD in iDVD. I have lighscribe DVD+Rs that hold 120 minutes of video. When I go to burn the DVD it brings up a warning about problems with validation, but I burnt it anyway.

We would like to run it in a laptop using Windows, but everytime I have tried to run the DVD on the laptop, it's VERY choppy. When I checked the properties of the DVD disk it said that it was completely full (3.26GB). I tried running it on a regular DVD player, at first it worked great, but then froze and went to the "menu screen" after only playing 1/2 of the movie.

Any suggestions on fixing this problem would be very appreciated!!