Get a bunch of clocks or free clock noises and mix them on Audacity or something to make a really sustained clock intro like on DOSTM. Then record the voices of your friends doing the quotes. Play the audacity track while your recording the demo, or mix it into it.
That's how I imagine it anyway. The rest should be "straightforward" instrumental and vocals stuff. I'm no musician, but that's how I would go about it if someone put a gun to my head.
EDIT: wait... I don't think there are any voices in Time? Are there? Well, that should make it even "easier." I can't remember how much atmospheric stuff there was in Time, I imagine that would be tricky to add. As long as you get the basic drums, keyboards, bass and guitar lines, I'd be satisfied as a PF fan. I'm not very demanding.
Edited by RoyFairbank - May 08 2010 at 21:57