I'm not really familiar of all the options there are for small displays like these. I know I have seen some but don't remember well enough.
You might be able to find some small video displays that would come with the driving hardware too. Maybe some evaluation kits etc. But if you find a package like this you should probably be prepared to pay quite a lot.
Some of the mobile phone displays might do what you want in the size you need. As an example I have a 2" 320x240 18bit color TFT screen in my phone. With that kind resolution you are able to play pretty good quality video.
If I'm not totally mistaken I might have seen Mouser selling a similar screen a while ago. Then the problem is driving this. Playing a video with this resolution takes some power. Maybe look into a 400MHz XScale or similar processor. And then to make this a wearable you want everything to be quite small. Gumstix or one of the other small modules might be worth looking into. In fact now that I think of it, if you go with Linux as the OS for this, most of the software components probably already exist. So it would just take some integration to put everything together.
Would it be enough if both screens played the same video ?
Just that if you calculate some of the costs you are paying over $300 for the components alone + other costs to put the hardware together. Sounds like a fun project so if this cost is not a problem and you think you are familiar enough with this kind things to be able to do it, just go for it.
Maybe if lower quality video than what I had in mind would be enough you might be able to find some cheaper hardware too.