This is a fast variant. I only took the text in English to simplify my own understanding:
coord[t_] := {Cos[t]/(1 + Sin[t]^2), (Sin[t] Cos[t])/(1 + Sin[t]^2)};
str = "you are my only real love";
lst = Characters[str];
Manipulate[
lstText =
Table[Text[Style[lst[[i]], 16, Red],
coord[(Length[lst] - i)/n]], {i, 1, Length[lst]}];
Graphics[lstText], {{n, 8}, 5, 40, 1}]
looking as follows:

Just play with the slider.
Or like this, if you want the line on the background:
Manipulate[
lstText =
Table[Text[Style[lst[[i]], 16, Red],
coord[(Length[lst] - i)/n]], {i, 1, Length[lst]}];
Show[{
Graphics[lstText],
ParametricPlot[{Cos[
t]/(1 + Sin[t]^2), (Sin[t] Cos[t])/(1 +
Sin[t]^2)}, {t, (Length[lst] - 0.5)/n, 2 \[Pi] - 0.1},
Axes -> False]
}]
, {{n, 8}, 5, 40, 1}]
giving this:

Have fun!