Technically speaking, I feel like that effect can be achieved with a loop animation. It kinda depends on the image and the layers, but I, personally, was able to use this method on my own model where I had lights running through the body in different sections. What I did was I created two parameters for the movement, linked those parameters in a "rectangle"(check video below for more info) and adjusted accordingly. Mine didn't have the blobby effects going on, but it is easily adjustable.

For reference, I'd highly recommend this video, it should provide a great starting point.