RESOLVED
Thank you for the link Umalo. I had seen another example like this and it was a conformation that it was possible, however it offered no markup example.
I was able to hobble some markup code that seems to work:
The Action
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Source code
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<action name="draglayer">
if(dragging,
set(layer[your_layername].x,get(mouse.stagex));
set(layer[your_layername].y,get(mouse.stagey));
delayedcall(0,draglayer());
);
</action>
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Calling the Action
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Source code
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ondown="set(dragging,true); draglayer();" onup="set(dragging,false);"
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I wanted the image, and the control bar to still be available, and had to make sure bgcapture='false'. This allowed the rest of the UI to remain active.
Thanks again