Manipulate[
 Graphics[
  With[{th = (d + rMin)/(2 n)},
   Table[Rotate[{
      {Red, Disk[c (i/(2 n)), Abs[1 - (1 - rMin) (i/(2 n))]]},
      {Black, Disk[c (i/(2 n - 1)) +
         {0, d (-th + 2 th ((i + 1)/(2 n - 1)))}, 
        Abs[1 - (1 - rMin) ((i + 1)/(2 n - 1))]]}
      }, 180 \[Degree] tw (i/(2 n - 1)), {0, 0}], {i, 0, 5 n, 2}]
   ], PlotRange -> All],
 {{n, 9, "rings"}, 1, 50, 1},
 {{rMin, .02, "inner radius"}, 0, 1},
 {{d, -5, "displacement"}, -5, 5},
 {{tw, 0, "twist"}, 0, 50},
 {{c, {0, 0}}, -{1, 1}, {1, 1}, ControlType -> Locator, 
  Appearance -> None} ]