Best way to create GIF of marquee with chase lights??

I am trying to find the best way to create a gif that represents
a rectangular marquee with chase lights running around the perimeter.
I will also need some other stuff happening within the marquee but
I know how to do everything else.

I just got Photoshop CS3 but am not adverse to buying a GIF
program if that is the best way to go.

Although it is not the design I am wanting, for purposes of clarifying,
imagine a rectangle about 4 inches long and 2 inches tall. I want the
"lights" to chase (with different colors) around the border. Light size
would be just 2 or 3 pixels square (I would like to play with this size).

Basically, the gif would be a single light chasing around the border but
lighting different colors (I definitely want to play with different colors)
as if different bulbs are lighting. When they are
not "lit", I would prefer that they be invisible.

I hope that describes my idea. Any thoughts on the best way to go
about this??

Thanks!!!