Arithmetic coding is increasingly being used in upcoming image and video compression standards such as JPEG2000, and MPEG-4/H.264 AVC and SVC standards. It provides an efficient way of lossless compression and recently, it has been used for joint compression and encryption of video data. In this paper, we present an interpretation of arithmetic coding using chaotic maps. This interpretation greatly reduces the hardware complexity of decoder to use a single multiplier by using an alternative algorithm and enables encryption of video data at negligible computational cost. The encoding still requires two multiplications. Next, we present a hardware implementation using 64 bit fixed point arithmetic on Virtex-6 FPGA (with and without using DSP slices). The encoder resources are slightly higher than a traditional AC encoder, but there are savings in decoder performance. The architectures achieve clock frequency of 400-500 MHz on Virtex-6 xc6vlx75 device. We also advocate multiple symbol AC encoder design to increase throughput/slice of the device, obtaining a value of 4.