Basic way , what I did was for tracking a moving 3D object, was add the behavour add scroll to my object.
Then under Events add a camera position and a rotation action.
like this will point the camera at the object on every tick.
System - every tick - q3d master - camara - look towards position
then fill in with auto complete your object handle.
X object name.x
Y object name.y
Z object name.z
or just values if you want to point it by xyz
X -20
Y -100
Z -900
or I used + ( - OR + NUMBER) value to adjust the x,y,z camera pointing at the object position in space.
X T34Tank1.x + -10
Y T34Tank1.y + -300
Z T34Tank1.y +-900
you can use variable's instead of constants and loops in your events also etc
hope that helps.
I think I got it but could you upload a Capx. My example sees to rotate all over the place.