What I need is head tracking technology. Imagine putting the camera on one ship, and the LEDs on the other. That would give me the XYZ relations between the ships, I need.
I'm not really sure about your project.
You need at least to compensate one of the side (webcam or LED) with the movement of the ship it's on, if you want a horizon (plane) for reference.
What hardware would you suggest?
Get a PS3 Eye and three LEDs in cap configuration.
You will get 60FPS and your tracking distance is between 20-150cm