multi threading or parallel processing?

Question

hi
i have a program to image processing
i have 30 frame from an IP camera per second and my program must process them continually!
but i don't know how must i process them with one computer? can i use parallel processing? or i must use multi threading?
i know some of conditions like camera type or connection wire or resolution of the images are important, but i need to know other options! 
now when i run my program and try to process every frame one after one, it hangs and don't show any of frames and sometimes it has error "out of memory"

i need to raise the speed of processing and i need to process every 30 frames in a second!

what way must i use for this purpose?
and what steps must i do for that way?

can i update my source code with simple changes? or i must write my program again in a new way? :(