Yes, you can route based on traffic type (port, IP, protocol). This is very easy if you are familiar with Linux and policy routing under Linux. You need to basically do two things. (1) Mark or Flag your traffic using IPTABLES and (2) policy route based on the flag or mark using Linux IPROUTE2 suite of tools on most Linux distros.
You can mark traffic based on a range of subnets such as HULU's IPs or you can mark based on Port or range of ports. I don't know much about HULU beyond what it basically is. If you can mark traffic based on port(s) or IP subnet(s), then you can easily set this up using Linux as a router.
Now it may be simpler to mark traffic based on source port rather than destination port if destination ports vary too much. I believe HULU is a client that can be installed (last time I played with HULU was about 1-2 years ago). If within the HULU client you can specify the source port supposedly so you can configure your NAT or HTTP PROXY firewall to allow this traffic through, then you're in business!