I have measurments course project
How is this not homework? And a two-month deadline for results? I would go with Option 2.
I would first try to use NTSC or PAL video (if you have it) to modulate a laser-diode light source. Use a fast silicon PiN photo-detector or a photomultiplier tube to receive the laser light and demodulate it to recover the NTSC or PAL video. Or, if RGB analog video is your source, try using three laser-diodes modulated with red, green, and blue video. The main problem will be choosing a modulation method. Laser diodes can be amplitude modulated with Kerr cells, or perhaps by varying the excitation current applied to the laser diodes.
The laser diodes can also be pulse-width modulated, which lends itself to digital video, although for video this would require a ten megahertz or larger pulse repetition rate (Nyquist criterion) to sample the video data stream for NTSC or PAL video, and higher sampling rates for high-definition (HD) video. HD video generally means you have to digitize the video to allow digital transmission and error-correction, complicating the problem. I would try the analog video approach first before jumping into the rabbit hole leading to digital video. But if you tell us how you plan to proceed, I am sure someone here will be able to offer some help. Heck, you may not even need color video! What a simplification that would be!
You will also need optical components to focus the laser light emissions onto the optical detector(s).
This is NOT a project for beginners. And two months seems (to me) to be an unrealistic time frame to design, build, and test your project, especially since you are forbidden from using commercial off-the-shelf modules. But I am gonna wish you luck, because having copious amounts of good luck is the only way you could possibly finish this project in sixty days, unless you have a genius team of five or six high-achievement learners who know how to work together to get things done. This is a hobbyist forum, but there are a few members here that are quite capable. Stick around and start a dialog with a few of them.
Can you post a description of the specifications your system must meet? Video bandwidth, video scan parameters, frame rate, etc. will all affect how your design should proceed.