jit.anim.node relative rotations

Joseph Nagy's icon

So I can't wrap my head around how to set up an object rotating on the X and Z axis relative to a cameras Y axis (and not having the object rotate on the Y axis). I have a patch set up that demonstrates what I want to achieve, but done through non relative means. Can someone help me out with making this patch relative?

Max Patch
Copy patch and select New From Clipboard in Max.