Clearly poking a bit of fun at Apple, after the roasting they’ve taken regarding Flash (or more accurately no-Flash-on-iPhone/iPad), Adobe has demo’d what can only be described as a “lets-do-it-better-with-more-features” clone of the FaceTime application, that Apple announced recently with the launch of the iPhone 4.

Named… wait for it….FlashTime, The application is based on the soon-to-be-released Adobe Air 2.5 for phones running Google’s Android operating system and will enable Android phones and tablets which have a front-facing camera, to to peer-to-peer video chat, over both WiFi and 3G connections.

Adobe’s Mark Doherty, speaking on his own blog, did warn that: “although all the features shown in the demo video are working, some of them might not be stable enough to make it into the v1 product.” The video demo shows the text chat feature, and then the video calling capability.

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Well played, Adobe!