The thing about a ring game is that they are very hard to handicap, and you will probably have some people who will not play if it isn't handicapped. If you run it like a tournament (with poker chips and all that), you can handicap it based on the number of chips they start with. Otherwise, if you run it like a regular ring game, you will have to find another way. I will often give weight in ring games by allowing the other players to get paid for more balls than I do. For instance, you could play a $1/$2 ring game, but make it so that the 5-ball only pays for certain players. With 10-ball, you could go a bit further and have several pay balls. For instance, you could say that "C" players get paid for the 4, 7, and 10, "B" players get paid for the 5 and 10, and "A" players only get paid on the 10. Stronger players will still probably have the advantage, but those are the only ideas I've come up with for handicapping ring games.
Aaron