I am trying to create a liquid crystal sandwich which i will pass
light through via a projector on to a nice white surface. I want to be
able to modulate the patterns via magnetic feilds or varying degrees
of electricity to create interesting patterns. Sooooo....
 
   I want to know what specific chemicals/compounds are used for
LCDs. Are they readily available for purchase to anyone or do you need
a license.

A good background site with clear descriptions of the various types of
liquid crystal approaches is at Case Western Reserve University.  The
site is http://liq-xtal.cwru.edu/ and the Group is the Liquid Crystal
Physics and Complex Fluids Group.  The cover the gamut of research
today, but I want to point you to a particular sentence in their
description, "We also develop liquid crystal devices, including
displays, electrically-controlled optical gratings, and laser beam
steering devices."  Decide what you are trying to build before you
contact them.

As you look down their page, you should see a green background area. 
In it are links to a Liquid Crystal Primer, a LC Textbook, and LC
displays.  I highly recommend all of them.  Read according to your
needs and background.  You will see molecular structures of a couple
of the LC's in the Primer.

There is a very interesting supplier at http://www.light-span.com/
Photo Gallery at http://micro.magnet.fsu.edu/micro/gallery/liqcryst/liqcryst.html


Also search on "nematic liquid crystals"