I'm not sure about this because i can't test it right now but this could be worth a shot:

1. do the spinning animation first without the circular movement
2. group the ring with it self
3. animate the group node to move along the circle

if that doesn't work, another way could be using a position locator. e.g. spin the ring like before and animate the locator to move along the circle.

hope this gives at least some ideas...