Does this sentence translate roughly to "I can learn Chinese while watching a movie".
I wouldn't say it's "while" (as in "at the same time") and so 一边……一边 would be inappropriate, but instead "through" or "by means of"---the method of learning Chinese is watching movies. Also, I don't think the omitted subject is necessarily 我 (e.g., a Chinese teacher might also say this to their student), but this depends on context. Chinese is often like this, where you're left to infer omitted pronouns and conjunctions.
I'd consider the sentence as short for something like:
通过看电影,我们可以学中文。
So we might say in English:
By watching movies, it is possible to learn Chinese.
You can learn Chinese by watching movies.
(where the "you" doesn't refer to an actual person, but is the informal version of "one" in the sense of "one can learn Chinese").
The grammar seems close to a topic-comment sentence; the 看电影 ("watching movies") describes the scope of the sentence (I think this would be classed as an adverbial 状语), and in that context, we say 可以学中文 ("it's possible to study Chinese"). It's a bit different, however, because the topic 看电影 is a verb phrase.