This is what I have done with my project so far. I'm going to post it as I go. Right now I have just set up the scene and laid out the architecture of the scene. I have classes set up with all the Objects in the scene, their color, speed, positions and such. This allows me to easily move them and such. Currently the rings can move in the scene; but I don't have any collision detection going on, so they can't hit each other, or stay inside the tank.
The next step I'm going to do is enable collision detection between the rings and the tank. Then add some fake light-gravity, and a way to add velocity to the rings.
Here's a picture of what I have in the scene so far.