Spinning Annular Wing Model

So, I'm in college studying Aerospace Engineering and I'm going to enter a contest of airplane models. Summing it up, I would like to know if anyone can give any insight on if it is possible (at a reasonable price) to make a Spinning Annular Wing Model Plane (i don't really know if the name is right). Something along this lines: http://ift.tt/1hPEppL .

Would it fly? Where would put the engine? And something like a landing gear?

Thanks in advance.