For those who have this issue and find this thread through googling, but are on Windows 10 like I am and can't use the Aero theme, this is the solution:
I'm running the latest build of Windows 10, EVGA GTX 970 SC, running on Nvidia 368.22. I'm running HDMI out of my PC into a Vizio E55-C1 HDTV (60hz refresh rate).
A week or so ago, I started getting massive horizontal screen tearing in chrome while watching full screen videos. It happened in Youtube, Netflix, and MLB.tv. When I went full screen in Firefox the tearing wasn't there, but I much prefer to use chrome.
I googled for hours on the subject and the big fix everyone talked about was using the Aero theme in Windows 7. Doesn't help me - I'm on Windows 10.
I tried mucking around with the refresh rate on the HDTV, didn't work. I went into the Nvidia Control Panel and set the Chrome 3d application Vsync setting to "adaptive (half refresh rate)" as I had seen that as an answer while googling. It worked up to a point... but the playback wasn't nearly as smooth as before.
I'll just get to the point and say that I found the solution. The solution is to go to chrome://flags and DISABLE "Smooth Scrolling". I did that - all full screen tearing problems instantly fixed.
I wish I knew where to post this so that more people could find it - it was a bitch trying to find the solution and anyone who's run into the same problem knows how annoying it is. Hope this helps someone else with the same issue.