1980's circular UFO seen while driving.

This happened back in the early 80's. (81-82ish)  My grandfather, uncle and I were driving back to Lima, Ohio from a stamp and coin show in Indianapolis, Indiana. It was already dark out (not sure of the season, but I don't recall it being winter).  We were on the highway (I believe it's highway 70) and I was sleeping in the back seat of the car. I was awakened by the sound of my grandfather and uncle trying taking about something they were looking at.
I leaned forward over the front seat and saw a large circular object in the sky, it had white lights on the bottom and red lights on it's sides (it might have been red on bottom and white on the sides, it was long ago). You could tell by the movement of the lights that the object was spinning.
My grandfather tried to tell me it was a small plane pulling a lit up banner, but even at 11-12 yrs old I knew what we were seeing.
I had a chance to talk to my uncle about this even earlier this year at a reunion and he said, "I don't know what that was, but it was not a plane pulling a banner, we told you that so you wouldn't be frightened."
Witness indicates that date of incident is approximate.  PD