It's not clear what you're asking. An M3U8 file is an HLS playlist. It can include multiple bitrates of the same stream (as designed). Support for that doesn't require any special BrightScript code beyond supplying the URL and specifying "hls" as the stream format.
If the OP is asking if a single channel can present a list of different streams that the user can choose from, the answer is yes. You'll need to use a poster screen, grid screen, or list screen to present them to the user. There are several SDK examples that show how that's done.