I think you will find that you are not allowed to point CCTV cameras beyond teh boundary of your property. You can pnly film your own land, not pavement etc, unless the pavement or road somhow cant be avoided whilst filming your land.
The best thing to do is ensure that everyone in your road report EVERY instance of this to the police. It is classed as criminal damage for which most Police and Local Authorities working in partnership have targets to reduce. If you keep reporting it, their figures rise which they dont like at all, and then they will be able to justify doing something about it permenantly, like full time CCTv cameras etc.
In the mean time, you may of heard about something called neighborhood policing. Basically the policing are rolling out thousands of Police Community Support Officers (PCSOs) and there role will be the front line in detering/catching these types of crimes. Each neighborhood policing area has to set up something called a NAG (neighborhood Action Group). Phone your local police station and ask to have information about your local NAG meetings, dates times etc and then attend. If you keep mentioning these issues at the meetings then they will ensure that additional patrols by the police and possibly your councils wardens (if you have them) occur more frequently to deter/catch people at it.
Hope this info is of use.