How to convert 14GB to 2GB for IMDB upload using FinalCut Pro 7?

Hi,
I am submitting a 12 minute film to festivals and need to convert it from 14GB to around 2GB for best quality results in order to upload it to IMDB so that it could be streamed. I use FinalCut Pro 7 but the compression/export settings for the file are proving to be tricky.
Once I click on Export>Quicktime video
What settings do I choose to have the file be closest to 2GB and have the audio and video synced perfectly, maintaining the good quality of footage shot on Red?
14GB footage specs:
Dimensions: 1920 X 1080.
Codecs: Apple ProRes 422 (HQ), Linear PCM, Timecode
Color profile: HD (1-1-1)
Duration: 11:59
Audio Channels: 2
When I converted it to DVD: I got a DVD .m2v file around 465MB, it that the highest quality I can get for a DVD version?
Also, When I set the settings to 1280 x 720 it resulted in a file size of 275.4MB, when I wanted it to be around 2GB
Please help me asap. I need to get this done today. Thanks alot in advance!

Export a full quality file....FILE>EXPORT>Quicktime Movie. Self contained, sequence settings. 
Take that file into COMPRESSOR.  Look for the Quicktime 7 Streaming options...choose the H.264 LAN preset.  SUBMIT.

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