convert audio stream to mp3or flac

Convert audio stream to mp3 or flac. [live Dead and other gigs are only available as real-time streams]

There is a BIG need to either record and convert later or do real-time audio streams to mp3 or better yet, FLAC.

I have done it in the past but it was a convoluted cluster fuck. If you guys could put this application on your list, moving it to the top, that would be really far out

Mahalo,
Jaci!