Work out where the weapon hit the ship, load a small circular model place it where the weapon struck then force the model to cloak and remove it.
Impact Event, and glow decay... .. Although the effect would most likely be more annoying than anything else using that method, but its the closest idea i can think to do it
I spot a potential problem here (putting it mildly).
Ok, so you got your point
on the model.
How do you proceed with the drop in model?
You place it at the point. Done?
Um, what about collisions?
You need to disable collisions for either of the 2 objects.
Ok, so you can disable collisions between 2 models.
Now, back to where I was, the point
on the model.
See where I'm going at?
It will already have hit the model.
This might not be a major problem for projectiles (since we can fool them to "die" before doing damage, this also prevents the shield shimmer btw), but beams can't do this.
So it will still have hit the ship.
Warning 1:30AM mindset...