You could create the Glow effect in actionscript and listen for the effect complete event. After the effect is completed you could then restart the effect and put it in an infinite loop. You could also connect various effects together and then have play together.
You could use a timer to call the effect's play() method.
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Greg Lafrance - Flex 2 and 3 ACE certified
Flex / AIR Development, Training, and Support Services