My USB is of NTFS and can take in huge files. This is good, but I cannot play them on a DVD player.
To sum up the other comments, you can't. Unless your DVD can read formats other than FAT32, you're stuck with the limitation.
Per default, Windows won't allow you to create a partition larger than 32GB. However, this is an artificial limit, which you can avoid. See this article: How To Format A Large Hard Drive With Either FAT Or FAT32
Your issue seems to be that you can not store files larger than 4GB on a FAT32 formatted drive/partition. There is no way to circumvent this limit, but there is a hack to get around it: you can split your files. Try G-Split or one of the tools reviewed here:
The Top 5 Free Apps To Split Or Merge Video Files
The Top 5 Free Tools To Split Or Merge Music Files
Most Thumb Drives are formatted fat32.
The maximum possible size for a file on a FAT32 volume is 4 GB.
Unless I want to write to them using a Mac, I reformat to NTFS, eliminating this problem. My Daughter's Mac will not write to NTFS.
The Mac OSX will not allow you to play with NTFS very well, however you should check out Tuxera NTFS for Mac Works perfect, I have been using it for a year or so now.
Create a fat32 partition dedicated to your video files. I did this to my external drive and it's working great. I have a 160 drive with 100GB ntfs and 60GB fat32.