As far as I know the way to launch any executable in flash is to use the "FS Command ("exec", ""). In the arguments section enter the path to the .exe file.
Something like /Quicktime/Quicktime player.exe
As I've said I haven't tested it out but I know this to be a way of launching any external file.
You can launch Qucktime in Flash. I downloaded this FREE program (because I had the same question last week) and not only is it easy but you can launch Quicktime with it -- within Flash... Here ya go... http://theemaster.netfirms.com/defaultapp.zip