It seems you want to do this in 3D. Hopefully, because 2D is *MUCH* harder

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Here's what you do:
1. Create an effect and draw it to a texture buffer.
2. Now draw this texture over and over, each time slightly larger and with more transparency.
3. Play with how many times you draw it, the rate it grows and the rate it "fades" until you get what you're looking for.
4. Enjoy

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Hope that helps,
Jake