AS3 dynamic guide

Hello,

I was wondering if there is a way to dynamically add a guide to a movieclip, and then let another movieclip follow this guide.

Put another way: i want a “highlight” movieclip to follow the bounds of another movieclip as shown here:
http://users.telenet.be/dennisjaamann/example.swf

This all has to be done dynamically, without drawing the guide on stage my self.

Greets