Does anyone know if this movie is available on DVD or video?

Yes, the DVD is available in Italy (Widescreen, Italian DD 2.0 audio, with optional English, French and Italian subtitles).
Only a few online stores have it in stock, though, and it may be hard to find. Try DVD.IT or IBS.IT (just to mention a couple of stores that ship internationally).
It goes without saying that it's Region 2 and PAL; therefore, if you live in North America, you'd better ensure that you have a region-free DVD player (or drive, if you want to watch it on your PC) and a multi-standard TV set, before ordering it.
Good luck!

http://www.yesasia.com/us/red-like-the-sky-dvd-taiwan-version/10114061 28-0-0-0-en/info.html

This version is supposedly in R3 NTSC, but in fact it is Region-free with English subtitles. They also stock an R2 version with Japanese subtitles only, also in NTSC.

tough luck. You are missing one of the best italian movies from the last 10 years.

I dunno why so many Hollywood crap is available everywhere while truly artistic films like this one are hard to find.

BTW I watched this beautiful movie on DVD; it's region free NTSC. In italian with spanish subs.

It is a very late reply, but the DVD is available in Australia (Italian with English sub-titles from Aztec - http://www.aztecinternational.com.au/productDetails.php?cid=12&pid=153