Great idea, brilliant, instead of being run off the road by some airhead debating J-Lo's hair color or sexting we can throw in a bunch of people driving while watching Glen Beck Vap-o-rub himself into a ranting/crying fit. Fleeing suspects could catch themselves on TV and mug for the cameras. You could watch and be in an episode of "COPs" in real time. Sort of an the full immersion video game experience. Yes, that will certainly make the roads safer.
Well, at least everyone will have something to do while waiting for the EMTs to arrive.
Instead of TV, or even normal radio, how about a EBS, Emergency Broadcast System, or NWS, National Weather System, alert receiver. I'm not saying it is a good idea but emergency alert activation is a established technology and, free of commercial and personal use, could provide some useful information.