VLC to VLC direct streaming

 1st VLC:   
find your ip address, says it's 192.168.0.11
VLC menu [Media] -- [Stream] -- [File] -- [Add] -- choose your media file -- [Stream] -- [Next]
in [New destination] choose=[Http] -- [Add] -- accept port 8080 [Next] - click [Activate Transcoding] (Video H.264 + MP3 MP4) -- [Next] -- check [Stream all elementary streams] -- [Stream]

2nd VLC:
VLC menu [Media] -- [Stream] -- [Network] tab -- [network URL]: http://192.168.0.11:8080
click the drop down arrow of [Stream] button, click [Play]

or use cmd:
"C:\Program Files (x86)\VideoLAN\VLC\vlc.exe"  http://192.168.0.11:8080/  --fullscreen

If you have external monitor and wanna play full screen on it, manually change in VLC Simple Preferences -- Video -- Fullscreen Video Device=\\.\DISPLAY2  -- Save

At times, VLC not reliable, would need to repeat above for both VLC. Also, you may need to configure firewall to allow remote connection.