I thought I would emulate it with a MeldaProduction plug-in. In the end I chose MCharacter but it should work with others. Here's the result, showing the input (pale turquoise) and output (dark) waveforms:
>>> http://i.imgur.com/sAR0CvT.pngI used an Envelope Modulator, with a Custom Shape, modulating the Gain. The Level graph shows the input waveform (turquoise), the level detection (red) and the resulting envelope. Tweaking the parameters to get the desired result was easy
>>> http://i.imgur.com/hDX7K7y.pngI hope it inspires you to experiment.

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