Hay que poner un Timer con interval a 1 luego este codigo:
Private Declare Function SendMessage Lib "USER32" Alias "SendMessageA" (ByVal hwnd As Long, ByVal wMsg As Long, ByVal wParam As Long, lParam As Any) As Long
Private Declare Function capCreateCaptureWindow Lib "avicap32.dll" Alias "capCreateCaptureWindowA" (ByVal lpszWindowName As String, ByVal dwStyle As Long, ByVal X As Long, ByVal Y As Long, ByVal nWidth As Long, ByVal nHeight As Long, ByVal hwndParent As Long, ByVal nID As Long) As Long
Private mCapHwnd As Long
Private Sub Command1_Click()
mCapHwnd = capCreateCaptureWindow("WebcamCapture", 0, 0, 0, 640, 480, Me.hwnd, 0)
'DoEvents
SendMessage mCapHwnd, 1034, 0, 0
End Sub
Private Sub Timer1_Timer()
SendMessage mCapHwnd, 1084, 0, 0
SendMessage mCapHwnd, 1054, 0, 0
Picture1.Picture = Clipboard.GetData
End Sub
Espero que les sirva de ayuda!!!!!