No. You cannot embed a video in an email campaign. As a work around, you can add an image in the email that resembles a video and link the image to the video you intend to send.
Right click on the inserted image and select Image Properties. In the image properties window, select the Link tab. Enter the URL of the required video and set the target type (click behavior).
Whenever a user clicks on the image, he will be re-directed to the video.