This is the command I am currently using to stream live audio under the Raspbian distro:
ffmpeg -f alsa -ac 1 -i hw:1 -ar 44100 -f flv rtmp://10.255.11.53/
The functionality I am looking for is called the "Tee" command, which I will use to record the stream as an mp3 file while it is streaming live.
Is there any hope of getting this functionality from the Raspbian repository? Or is there an different command which does the same thing?