I need a program that can record multiple tracks of video/audio. I want to make videoes where I play different instruments/sing(multiple audio tracks playing at the same time). But also I want to be able to change the video back and forth showing me playing the different instruments. Also a split screen function alowing multiple tracks of video/audio to be show would be cool.

Watch the beginning of this video and you'll se what I mean.

At the moment im using iMovie/garageband to record video/audio. It is possible to achieve this effect using iMovie and garageband in combination, but it is extremely time consuming. Unless im missing out on something?