The first thing that came to my mind is making a podcast for kids to make up days they have missed. I would be able to walk them through the make up assignments and they are reading the hard copies themselves. I would probably use the podcast or also make a Jing presentation to walk them through whatever I have them do.
Another way to incorporate it in PE would be to have kids make a podcast to respond to classes and out of class activities. Part of the PE classes are matching our own standards with the Oregon state standards for education. The affective domain of these standards is how students feel and their social interaction. Being able to respond via podcasts could let me as a teacher know what activities they do and don't like and also how they felt emotionally and physically during and after class.
Here is a short little podcast I made about the NASPE standards we PE teachers have to meet inside of the Oregon State standards.
That is all that has really come to my mind. If there are any other ideas on how to implement podcasts in the PE classroom, please feel free to leave some feedback.