[This post comes to us courtesy of CrackBerry Forums member HaTaX who has been doing some awesome things with the Android Player on the BlackBerry PlayBook despite its current limitations]
This tutorial assumes you've already installed the Android player BAR file on your PlayBook. If you haven't done so yet, go find "sys.android.bar" somewhere on the interwebs, and then check here for instructions on installing downloaded BAR files to your PlayBook
You also need to extract the contents of the "GApps-PB-rev2.zip" to your PlayBook after the Android player has started for the first time. Extract these files to the file share on your PlayBook via the network file sharing feature. You should extract the 3 folders in the ZIP file to "\\PLAYBOOK\media\misc\android" where PLAYBOOK is the IP address of your PlayBook. Get the ZIP file to be extracted to your PlayBook here.
The key to getting this working 100% correctly is to be PATIENT! Don't try to move any faster then the video or you may get some weirdness or your downloads will sit at the "Starting Download..." message. If that happens, restart the PB and try again.
*This stuff is all experimental, if you decide to go through these steps it's at your own risk.*
Questions or problems? Drop by the Crackberry forums and we should be able to get you squared away.