Sorry, I don't think it's possible without an outstanding knowledge of the PSP's hardware and the ability to write an app for it (possibly including writing a driver). Basically, unless you work for Sony, it's not gonna happen. Sorry.
However, using USBHostFS, it is possible to hook your PSP up to your computer via USB and play games off your computer's harddrive - but the computer must be on. It's also possible to stream them over a wireless connection, but this is very difficult - I've never got it working myself.
BTW, this was in the wrong place. I've moved it as necessary.
Hope this helped!
