Building a 3D mouse interface as a final project.

Howdy folks, hope everyone is having a good 2014 so far. :)

I have a final project to build a 3D interface that can be used as a mouse for class, I did some research on it and found some items that could lead me to the right track:

I've only had minor experience in Arduino prior to this but I'm willing to be lectured and learn on how I could put the two together. I can see them working in tandem but could there possibly be a better way of approaching this? Any input would be great! :D