You won't be able to compress it using a compression program, the data is already about as compressed as it can get, you certainly won't get it to almost one third its size using conventional compression.
The only way to do it is to re-encode the video, using something like HandBrake. With HandBrake you can lower the resolution or just increase compression. It uses the H.264 compression standard, which means that it only includes data that changes from frame to frame, which greatly lessens the amount of data. That's the key: less compressed data, not trying to compress already-compressed data.