New video codink standards such as H.264 offer the flexibility to select from a number of reference frames for motion-estimation for a given predicted frame. In this paper, we propose an optimization algorithm using dynamic programming that exploits this flexibility for multipath streaming -simultaneously streaming over two transmission paths with different bandwidths and loss rates. A rounding technique is employed to scale the complexity of the algorithm down at the cost of degrading solution quality. Results show significant streaming quality improvement over a conventional multiple description scheme.