Particle Effects->revolving around a set point.

[Chompy]

You'd have to time events like when it has travelled 180 degrees around the target then make the layer increase. Just alter the layer of the particles when it has traveled 180 degrees around to player or from <x1,y1> to <x2,y2> (from the left side of the player to the right side of the player for example)

To sum it up: Edit the particles' layer.