I basically did what you did with distort and less "perspective". It seemed to "bow up" with perspective. Mine (above) could have used more.
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Nooooooooooooo! LOL!!! Actually, it's fairly straight forward for those with a bit more Ps experience.
Ok........but with minimal details! If you have questions, let me know!
I created a ring of rectangles using Free Transform and step and repeat.............and a little simple math!! (360 ÷ number of rectangles needed)
(This is the step that might need more explanation for those who don't know about a step and repeat process)
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I then duplicated the ring layer, changed it's color.
I used Free Transform and made the duplicate ring slightly smaller and offset from the first.
Once done, I rasterized the two ring layers and merged them.
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I then lowered the merged layers fill to 0%.
I added a layer style (black) stroke (center).
In order to remove the middle ring, I also set "Layer Mask hides effects" in the Advanced Blending in the layer style.
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I then added a layer mask to the ring layer.
Masked out the inner ring.
Then applied the layer mask. DONE! Simple........right?
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