The animation should actually be pretty straight forward. I'd put all the rings as child of a null/dummy. You can use that to control the height, as per the original animation. Then each ring just needs a rotation on one axis. Each ring should be rotating on a different axis. The real trick is getting a smooth continuous loop. I know Max tends to get a bit derpy trying to do that with linear keys.
As to the video, you'd set up a DLG that has an animated camera that rotates around the map and a script that starts the map animation so that everything is synced. Then in a video editor you'd just crossfade between each clip. Honestly that should be the easiest part of the whole operation.
Edit - As an example:
Although I noticed that compiling the model and then importing it into Blender the animation didn't quite loop smoothly like it does in Max. You'd need to test it out in-game to see what it looks like there I guess.
Also this is not the gimbal style of animation where each successive ring is a child of the former. You can do that if you prefer, although the current starting positions would need to be altered in order to get all three rings in gimbal lock.
rings_temp-kotormax.mdl.ascii
Edit 2 - And if you want a gimbal style version:
rings_temp-GIMBAL_VERSION-kotormax.mdl.ascii