Hasta La Motion!

I’m attempting to create a ‘flip-book’ animation from a frame sequence. My best reference is the marvel logo;
http://www.youtube.com/watch?v=ZmfiIqzdIbM

Key framing the frame-hold node’s increment value gets the timing right, but for the life of me, I can’t figure out how to get the next frame layered over with a transform at the right time, ideally controlled via expression from the increment value.

Any advice would be greatly appreciated,

P.S. the ‘flip’ animation is a super simple y transform that’s only 3 frames w/ motion blur.