A bit of brainwashing advice:
Remove your V-Cam. You don't need it. It's for animations.
What is the MATH that drives the functionality of a V-Cam? It's really simple.
If you know how to solve basic linear mathematical equations (studied in third grade of school), then you are able to find root x of an equation like
x+5=3
In this case
x=3-5=-2
To be more abstract
if
x+a=b
then
x=b-a
You seem to write without too many grammar mistakes, so I assume you understood this.
Now the nested coordinate systems. Every movie clip, including _root, which is a movie clip, is a coordinate system. When you put a movie clip inside a movie clip, we may talk about nested coordinate systems, because you put one coordinate system into another.
Coordinates of nested coordinate systems, assuming that none of the movie clips are rotated, scaled or skewed, are additive.
It means that a coordinate of a point inside a movie clip on the stage is the sum of coordinates of all parents of that movie clip plus the coordinate itself.
In this case, the player has its parent as _root, and _root has no parent.
I've mentioned some stage here - it is the application screen. You see, you can move _root like any other movie clip, and by moving it you move all contents of your flash application. Stage is the global, basic container of everything, which cannot be moved. Stage's coordinates refer to pixels on the screen.
player_on_stage = player_in_root + root_position
Here, player_in_root is the coordinate of the player movie clip inside _root, and root_position is the _root's coordinate (on stage).
The projection of the player onto the stage is the sum of its position inside _root and of _root's coordinate.
This formulae breaks into X and Y formulaes, meaning
player_on_stage_X = player_in_root_X + root_position_X
player_on_stage_Y = player_in_root_Y + root_position_Y
So what you want is for the player movie clip to always be positioned in the center of the stage, offset downwards by, let's say Q pixels (where Q is a number less than half the height of the screen).
Also, let's assume that height of the screen is scr_H (for example, 400) and that width of the screen is scr_W (for example, 550).
THEN, this is what you want:
player_on_stage_X=scr_W/2;
player_on_stage_y=scr_H/2 + Q; //we're adding, because Y axis is directed DOWNWARDS
All these are mathematical equations.
Now, you need to solve them and find these two values:
root_position_X
root_position_Y
Now, find them.
Very good, you are done.
Now, you need to translate the math into code.
root_position_X becomes _root._x
root_position_Y becomes _root._y
scr_W=550
scr_H=400
player_on_stage_X is simply player._x
player_on_stage_Y is simply player._y
And you need to do that every frame.
That's it.