So far I have only been able to record a time-lapse by putting individual images together, but it takes up a lot of space. Is there anyway to record a time-lapse as a video instead of PNG or JPEG?
You can use a video recorder like OBS.
Okay 
so there’s no way to actual do it on Krita by itself? Just to be clear!
Krita has no just-in-time video recording, no. It works by creating snapshots of the drawing in an interval and then rendering them to a video when done (with ffmpeg renderer). The individual snapshots can take a lot of space, depending on the length of the session and the configured dimensions and interval but it at least takes very little computing resources away from Krita, while you’re drawing (like CPU time).
In case you haven’t grasped it so far, Krita can make these snapshots into a video (render them), it has all you need to make a video, but it begins with single pictures.
Michelist
Ahh okay so there is a way to do it on Krita! I was just confused because the only ways I’ve found you could do it was by editing the single snapshots together.
Oh I see there is a way! I just found it now! Its taking a while to load, but I now know how to create it as a video so I’m happy!
Thank you @Takiro, @sooz and @Michelist for helping me with my small problem!
Krita has a mighty wonder-button F1 it will help you with a lot of issues, if you had used it to search on recorder docker, it had brought up this:
Michelist