How to record lightning?

I was hoping someone could kindly give me some tips on getting a decent video of lighting. I've been experimenting and can't seem to get it right. I don't exactly know how to explain what I mean, so I included what I've gotten so far on youtube. It's like the frames are too slow to capture a clean strike, and I get bands of black and light that look like my video is all screwed up. Do I need specialized equipment?

http://youtu.be/eZr1TBxU5uw

I have a Canon 60D with a 18-200mm lens
I used various settings, all with similar results.
720p/60 fps
125 and 160 exposures
3.5 and 4 f stops.
640,800,1000 iso

Thanks for any insight

It is almost impossible to capture lightning using a progressive scan chip (such as canon HDSLRS) You will have to get an interlaced camera, or keep the lightning fairly small on the screen (way in the distance). If a bright flash lights up significant portions of the sky then almost all bets are off with a progressive CMOS chip. This will explain it better:
http://en.wikipedia.org/wiki/Rolling_shutter

Unfortunately, no, the problem is the exposure time of video versus the length and intensity of the event (lightning flash). Lightning hits quick, and if the chip is halfway thru its progressive scan of the frame when a flash hits, then the top part of the frame will be normal, but the bottom half will be bright. It is a real problem.

I have been shooting lightning for several years now. Short of getting s super high speed camera, there is really only one way. I have shot with 3CCD, 3CMOS, and of course our favorite HDSLR's - they all do a lousy job unless you get lucky once in a while. The 3CCD was the best when it came to lucky timing. The best way I have found is use an intervalometer and do a sequence of stills. Yes, it takes time. Yes, you have to hope you are aiming in the right place. Yes, and yes and more yes to all the questions you are thinking. But the payoff is great as you get both stills and video potential. Something along the lines of this:

Thank you for the insight. I wish it was just a settings issue and not a camera issue, but what you're saying and the link you provided make perfect sense. Oh well.

Thanks vader, I wanted to get an intervalometer anyways, so that gives me another usage option to justify it. This also explains why the majority of lightning videos here seem to be animations or time-lapses.

And one important thing vadervideo forgotten to mention: you must live in the place where you can see the lighting strikes often :) In Finland where I live there are only few days with few strikes / year. According to the weather forecasting the next strike will be on Wednesday next week.
Zygis

They don't make high speed 2K and 4K cams yet.. but there are some nice HD ones for about 100K - Go look at http://www.visionresearch.com/ Phantoms -