We address the problem of joint optimal rate allocation and scheduling between media source rate and error protection rate in scalable streaming applications over lossy multipath networks. Starting from a distortion representation of the received media information at the client, we propose a novel optimization framework in which we analyze the performance of the most relevant forward error correction and scheduling techniques. We describe both optimal and heuristic algorithms that find solutions to the rate allocation and scheduling problem, and emphasize the main characteristics of the compared techniques. Our results show that efficient unequal error protection schemes improve the quality of the streaming process. At the same time we emphasize the importance of priority scheduling of the information over the best available network paths, which outperforms traditional first-in-first-out models or network flooding mechanisms.