Read the post and yell out if you need help
As far as I know, Canvas won't help you with with the maths and path itself. You will need SVG for that.
Canvas would let you draw the plane animation once you know where to plot it at different points.
Alternatively you could just use SVG for the rendering also, and not need Canvas at all.
I would only reach for canvas if you find that the SVG rendering is too slow, it should be fine with a few elements.
SVG also has that dashed lined effect that you have in your design.
Check out http://raphaeljs.com/