• Duplicate the layer with white spots and transform this layer.

• Ctrl + click on the layer with gradient.
• In the options bar, select Subtract From Selection Area button and cut out round areas from both sides of the circle.
• Fill it with light color (Opacity 14%).
• Add Vector Mask
• Fill it with linear black/white gradient just like on the picture.

• Ctrl + click on "button shape" layer.
• Select > Modify > Contract (5-7)
• Select > Modify > Feather (4-6).
• Fill selection with white color. Opacity - 70%.

• Create two white circles (opacity - 20%), transform them:
  • Edit > Transform > Warp.
  • Edit > Free Transform.

• Add a flashing using Starburst brush from assorted brushes.

Finally you should get something similar to this:

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