1. Make your layer a 3d layer.
2. Set a keyframe for Y Rotation.
3. Go to a top view, grab the Pan Behind tool, and pull the anchor point away from the video layer. For now just move it straight back in z-space, or straight up in the top view.
4. Go back to Active Camera view.
5. Let go of the Pan Behind tool...hit V.
Now when you rotate the layer in Y, it does so around the anchor point.
If you want you can create a camera and put it in the same location as the video layer's anchor point, so the layer is always rotating at a distance, if that's what you want.
One problem, though, with this approach is that you can no longer rotate that layer on its own axis.
So go back to step one. Forget the keyframe for Y.
Instead of moving the layer's anchor point, create a new Null object, make it 3d, and move it away in z space. Now parent the video layer to the Null.
Now rotate the Null on its Y axis.
Same effect, but you can now rotate the video layer independently, if that's what you want.