Editing collection - rich text

I know you can set up a form to edit a rich text field as specified at the following link:

In my original data input form, I have a rich text field using an iFrame, as is specified at the following link:

Can I somehow set up (with code) a way to also show the rich text data and edit it in the same form for editing data in a database? Or is that a lost cause?

My suggestion is to use focus event of text input element to show the html component and hide it on onmessage event.
What do you think?