As far as I know, the PS3 only supports FAT and FAT32. Unless you can mod your PS3's software or convert the Drive to FAT32 I am not aware of any other method. Also note that FAT32 does not allow files over 4GBs in size so make sure that none of your video files are larger then that by splitting or by increasing compression.
Sorry I had that around the wrong way, so in other words there is no way of fitting large video files onto my flash drive while its formatted to FAT32.
Can you please assist me with splitting the file or compressing it?
I get the feeling we aren't talking about a disk here... I'm at work and my video programs are at home. You should be able to run it through most popular programs and convert it to xvid or divx. But seeing as we are talking about rips here I'm not sure how much anyone should help you.