Got a 3" translucent trackball (Happs) and want to make it "glow".
Would LEDs be my best bet? If so, what mcd?

Thanks
This is a tough question. It depends alot on how you plan to implement this. Generally, you will want the brightest ones possible, but you also want a wide view angle. Sometimes these don't go hand in hand.
I used to have a Panther XL Joystick with a glowing trackball built in. They used a small board with 4 very bright red LEDs mounted under the ball.
You have to know a bit about electronics to know what size resistors to use based on the voltage you are feeding the circuit, the total number of milliamps the circuit consumes and the voltage requirements of the LEDs. You have to use ohm's law.
If you could supply the specs of everything, I'll try to give you starting point.
It might be easier to use a colored 12v lightbulb, but that's gonna generate heat, and burn out regularly.
RandyT