See the following jsFiddle for a working example.
As others have said, you cannot do this with a Textarea. However, you can create a div, style it to look like your other form elements, and set the ContentEditable property to True. With a bit of Javascript, you'll have exactly what you're looking for.
The following code will loop through the list of semi-colon delimited email addresses and use regex to test each address. If there is no match, the text is wrapped in a span and assigned a "red" class. The resulting new HTML is then applied to the contenteditable div and users will see the invalid email addreses highlighted
JS
$('#btnSubmit').click(function() {
var textEntered = $('#divEdit').text();
var textResult = [];
$.each(textEntered.split(';'), function(index, item) {
if (item.match(/^\S+@\S+\.\S+$/)) {
textResult.push(item);
}
else {
textResult.push('<span class="red">' + item + '</span>');
}
});
$('#divEdit').html(textResult.join(';'));
});
When a user submits the form, all you need to do is get the HTML of the contenteditable div and strip out and HTML and you'll be left with only the text of the entered email address.
Note: There are many challenges in trying to uses regex to validate email address (Using a regular expression to validate an email address). Be careful in what you're trying to achieve.