I duplicated the image layer, created a mask to cover the skin (definitely some rotoscoping involved for video). Then I added Hue/Saturation to bleach out the skin. This effect seems to rely on the highlights in the skin.
The glitter effect comes from a very slightly animated Add Grain effect. Make sure to set it to Monocromatic and set the Blend with Original to Screen.
Next add a Fast Blur.
Then a Glow: 75% Threshold, 1 Radius, 1.5 Intensity. Operation should be set to Add. Animate the Color Phase. Now Precompose the two image layers.
Inside the new Comp, add two Glows, one set to Horizontal, one set to Vertical. This gives you the streaks without blowing out the image. They both should be set to Add and A & B colors. make the colors Yellow and Blue for Glow 1, and Red and Purple for Glow 2. This is as close as I could come to the prismatic effect. There might be a better way but I don’t know.
This might be different with motion video but it seems to come pretty close to the effect you seek.
Check the video.