What are the dimensions of the frames in pixels? That's also ging to affect memory usage. But all in all it seems like you should be able to assemble tis in PD Pro (Project Dogwaffle Professional)

Check thebest3d.com for detail on Dogwaffle versions. Some free trial/demo versions avalable there too. But probably can't save to Avi wth those. Still, the free v5 at squirreldome should work for image sequences and export to AVI.