Look at the third party paster object, with it you can draw another object with an effect onto itself using the "paste object" action.
If you want to do it yourself you'll have to dig through C2's runtime source in the exporters directory and learn some webgl. The paster object works by having a texture that can be rendered to and then calling the drawgl() function of the object to draw. It becomes more complicated when drawing effects because the runtime wasn't designed to let effects be used by anything but itself. So you'll need to use the runtime as an example and make custom versions for your own use.