Adobe recently showcased a proof of concept video portraying video calling capabilities of its air based app. This app has not seen a full blown release yet. However, it can make use of the Air platform available for Android to provide us with video calling. The app is running on Adobe air 2.5 and has been proved to just work. Adobe will release a full version in near future.
Here is the video in question and as you can see, it freezes at times. All the code behind this was written in three days.