I had the same issue. Here's the fix:
It really matters that you take high frame rate footage. If you are working with 24fps footage, however, you can still get this effect. First, make sure the comp you are working in is a high frame rate, like 120fps. Go to the menu Composition > Composition Settings and change the frame rate. Second, right click the clip in the timeline > Frame Blending > Pixel Motion. This will interpolate and add frames into your clip. While normally AE's native frame interpolation is not very convincing, in this case because we are distorting the image anyways I think it looks decent.