You use Milkshape, right?
Well you create a Plane with the Glow Texture.
Then you create a the center of the Plane a Bone. Call it Plane01 or something you remember when editing the model in Magos.
Afterwards you have to attach all vertices of the plane to this bone.
Now export, open in Magos.
At first change the Material of the Glow texture to Filter Mode "Additive"
Now go to Node Manager and find your Plane01 bone.
Right Click on the Bone, choose "Edit Node"
Now just tick the box "Billboarded".
That was all.
You have to play an animation to see the result.
I hope I could help you.