Create all the objects you want to be affected by slow motion in their own family. Next, create a global variable that you can define the percentage of speed you desire. On all objects in this family, create variables to hold the original (normal) values of the changes we will be making.
To make it work, add an argument to all relevant movements and animation speeds that modifies them according to the slow-mo variable. In pseudo code, perhaps something like this:
+On a whim,
-set "SlowMo" to .085
+Slow Mo is on.
-Set "Desired Traits" to (Desired Traits * "SlowMo").[/code:1u2vrr3g]
Of course, this is vastly over-simplifying things, but with some hard work you can achieve a very convincing effect. You can even ramp the SlowMo using some math to make the transition smooth. Do you have a cap that I might be able to play around with?