you could archive the ISO into two segments with a file archiver like 7-zip, but you'd have to extract the segments on a hard drive and then mount with daemon it to make use of it.
if its video, obese is right on with doom9
for games, not necessarily. if its a install shield game, usually you can just put %game%.msi, setup.exe, data1.cab, data2.cab etc on seperate discs, sometimes extra files depending on the game (example: C&C generals for example needs the \support\ directory off the disc too), then put then all in the same directory on a hard drive and install from there.