If you want to just use Vegas, there are a couple of ways.
One, you can hold an object as a handle and swing it around. Then put a track above that track, put a still of your light saber rod on and keyframe it with track motion to match. This is tedious but can look great.
Two, hold a blue or green rod and swing it. Then, chromakey it out and have your light saber color come though from the track below. I haven’t tried this method, but someone told me it works.
A very important aspect of this is to download some good light saber sound effects to go with it.
Have fun,
Mary Waitrovich
UW-Madison