you mean one frame for each second? or one frame in 180 for one per minute? either way, what I would do is import to DV, open in QTMutator, set the movie duration to whatever it is divided by whatever you want, and save (or you could copy the length you want the final to be in QTPro, Add Scaled the original to that, and delete the short track). This will give you a movie with the speed you want but way too many frames per second. Then export from QTPro to your delivery format, setting the framerate under Options -> Video -> Settings. This will do a "hard" framerate change, discarding the extra frames.
The hard part of course would be the 8 hour input. You could do it in chunks, but I would do it overnight in an app like BTV ($20) that can compress on the fly to something like 3ivx or Apple's mpeg-4 codec. If you were doing any editing, you would be a fool to compress during capture, but in this case I think it will be a good move.