I've seen this done in postwork, but postworking animation can get tricky unless you're pretty good. An alternative is using a model; either the cylinder model that comes with Poser or the "jet exhaust" model that's in freestuff. You'd have to play with the transparencies and textures, but I've used this approach for renders with good results. "Glow" effects are not that easy to reproduce well with a model, however.