Modular Sprite Animation

I’m curious how I would go about animating a character comprised of many pieces. For example Rayman or a character in Metal Slug.
I know about Flipbooks, but I’m not sure if that’s the way to get the job done or not.
I’d like to have it change via Blueprint since I don’t really know any C++ coding.
If there’s a way to do it in Matinee (which I’m also pretty unfamilar with thus far) that would also be great.

Thanks in advance!

Since this has no response since 2014, I think I will bump it. I too am looking for information on this and it is like a ghost town online.