I haven't this suit and it is possible that mesh is very difficult to use as a dynamic.

Anyway you can try use "constrained" group.
Select single vertex under buttons and in each place which should stay stable.
You cannot select some vertex, because its are under button, so calculate few frames dynamic first. Button should fall down and unhide vetrex which should be "constrained".
When you selected constrained vertex, select belt as a "soft decorated" (use "add material" in grouping tool window), select button as rigid decorated.

Some tips you can find here:
http://www.renderosity.com/mod/tutorial/index.php?tutorial_id=2154