Well, there's quite a bit going on in that image.
I would break it into 3 separate parts; The background image, the radial wipe, and the counter. There's also the text at the top, but I'm going to ignore that.
First, create whatever background image you want. Simple enough.
Second, create the radial wipe. Now this is probably the most complicated part as you could use math to mask off more of a semi-transparent black square over time, or you could use a frame animated wipe and overlay that on top of the image. Either way will work, depending on your skills.
Third, creating the counter. This is just as simple as creating a text object and using events to count it down. You could do something like set up some variables to hold the number, and every 1/10 of a second subtract 1 from that number.
Overlay all the parts on top each other and you have yourself a nifty little cool-down sprite.