Storing all the data is easier and you would use less than 100k bytes per minute, or half that if 256 byte resolution was enough. Anyway, storage is not a problem if you use an external sd card.
Yes, it sound like an RC transmitter would not be much help if you will 'record' using a helmet for input. How were you planning to sense helmet motion using pots? Have you considered using something like a wii nunchuck attached to the helmet to get the recordings?