Movies are captured with a good amount of motion blur, so this unfortunately doesn’t work.
"We address this by increasing the repeating rate of the two lighting conditions at 72HZ, so that the lighting changes from one color to the next every 144th of a second. The lighting then appears nearly constant, with a remaining effect being that rapidly moving objects leave a trail of magenta/green outlines when seen against the screen, as in Figure 6 (bottom)."
"The remaining drawback of time-multiplexing in this manner is that the shorter shutter angle reduces the amount of motion blur, which is considered desirable for cinema."
Interesting that the complaint is that it reduces motion blur.