can I watch my apple movies on my home TV by connecting my iphone

I have turned on my home sharing through my itunes account. The only 2 apple device I own are the iphone 4 and ipad. I want to rent apple movies and watch them on my home TV and Theater system. Is it as simple as plugging in my iphone into my TV, rent a movie through my itunes account and I'm basically ready to go? I've never tried this before. I have activated the Remote APP, hoping this would explain the process but so far I haven't been able to get it all sync'd up. Need a bit of help? Am I on the right track? TYVM