Sorry to jump in late, but you should realize that, at a minimum, your theory invalidates Maxwell's equations, and does so at a very fundamental level.
Consider that, if we think of light as an electromagnetic wave, it consists of both electric and magnetic fields which oscillate 90 degrees out of phase. This can only happen in a consistent fashion when the velocity of propagation (c in a vacuum) is equal to 1 over the square root of the product of free space permeability and permittivity.
If your theory is correct, space is filled with EM radiation travelling at a wide variety of speeds. Every star with a different redshift produces light which has a different value for c, and over quite a broad range, too. This in turn implies that there is no such thing as a unique value for permittivity and permeability. However, such unique values have been measured repeatedly in the laboratory, and to far greater precision than stellar radiation would allow (Oh, those pesky high-z objects!).
So, unless you are able to extend your theory to explain how space can have a broad range of values for permeability and permittivity, I'm afraid that you're going to have give up on it for a while.