Yes, you can charge your iPhone and enjoy content on your iBridge 3 at the same time.
Here is what you need:
male USB to female USB cable Power adapter
So how does it work?
1) Plug in the iBridge 3 USB connector to female port of the extension cable
2) Plug in the male USB connector of the cable to the power adapter
3) Plug in iBridge 3 to your iOS device
4) Plug in the power adapter to the socket
5) The charging indicator should show up