So I've now realized that no mater what I do. my 3D vanishing point is relative to my stage coordinates and not my movieclip's coordinates.
I'm trying to move my 3D movieclip from one point of the stage to another but with the strong perspective that I have, I do not want it to change. I would like to move it and preserve it's perspective and not change it's shape.
Any help here?
use the projectionCenter property of a perspectiveProjection instance to change an objects vanishing point:
var pProjection:PerspectiveProjection = new PerspectiveProjection();
pProjection.projectionCenter = new Point(mc.x,mc.y);
mc.transform.perspectiveProjection = pProjection;