GCp screen power question

I'm working on a portable GC with minimal-ish modding due to moneys and accessibility and the such so i don't want to ruin anything. my screen uses 7.4v and has a batt. (it was a portable tv) that's 3.7v (uses 2A). i am going to get a custom battery pack made for this project and was wondering how i would connect the t.v. and cube to same batt. without ruining the t.v.
 
i did a digital electronics class so I now some stuff, but things like transistors and regulators weren't used or mentioned or nothing, we just did stuff with logic chips. so what does a switching regulator do, I did a search but not much of a good explanation. I do know some fancy terms so no need to find synonyms and metaphors and stuff. I just want to make sure i don't screw anything up.
 
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