Making soap bubbles in blender internal

I’ve been having issues lately designing a material for a camera/laser lens. Then I saw an amzing model on blendswap where a soap bubble had been modelled and set up with materials in textures. The model in question however was in cycles, and I use internal. Can anyone suggest how the effect could be replicated in blender internal, I had some advice earlier last time I asked about a related matter that settings found within the “Ramp” settings under the specular part of the materials tab could be helpful but couldn’t work out how to make something with them that worked well. I know that if I can but create a good soap bubble material to work in blender internal then changing a few colours to make it into a lens will be simple.

Does anyone have any suggestions on how that effect could be achieved in blender internal? Thanks

Something like this maybe?