Computer: Hewlett-Packard - HP Pavilion dv5 Notebook PC
OS: Microsoft Windows 7 Professional (x64-based PC), Service Pack 1, English
OS Build: 7601 (Debug = False)
Graphics: Mobile Intel(R) 4 Series Express Chipset Family (Intel Corporation)
Graphics Driver: 8.15.10.2302 Dated 2011/02/11
DisplayLink Graphics (7.1.44323.0) on 2012/12/31 Status is Installed
DisplayLink Core Software (7.1.44152.0) on 2012/12/31 Status is Installed
It took me a while to identify this problem was with the DisplayLink software. I was about to return the USB video adapter (diamond bvu195), until I decided to check for an update. Surprisingly, the latest software 7.1M0 seems to fix this issue with Chrome+flash+crashes.
It must be something with the Intel graphics mobile chipset since I have nearly the same specs as you. But give the new software a try.
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