I'm supposed to be able to figure this out and am embarrassed to be having a mental block right now. The answer is probably simple.
Consider a loop or ring made of some rigid material. The loop has tick marks that are uniformly spaced and spaced closely enough so that sections of the round loop between tick marks are approximately straight line segments. The loop is now made to spin around its axis. The Lorentz length contraction should make the distance between tick marks shrink, so the loop circumference should shrink. However, the Lorentz length contraction should not affect the loop diameter measured in a direction perpendicular to the motion of the tick marks. This says that the loop should not shrink. Does it shrink?