Without going through N/C it's a
bit tricky. You have a 13 position color wheel, (1 is open) so what you would need to do is create an
effect that when from position 2 on the wheel through position three, then back to position 2 again. I'd recommend starting by creating a color
palette for each position on the wheel. Then you can create a step based
effect with attributes Positive
Bounce (I think, can't test right now) that had steps with the on state Color
palette 1 through 12 (or whatever you choose). You might be able to do this easier as an absolute
effect, not sure.
Edit: Actually, an even easier method: Two step
effect. First is Wheel frame 2. Second is wheel frame 13. Set the time to whatever makes it look good, and go.