Margret, you pass one strip at a time. So if you rolled 4,5,6 (which would be a terrible roll lol) you would pass one strip to the left, one to the right and one to the center, (which is the 'pot' just like in real poker)

We play LRC at retreat in two groups of about 12-15 per group. All you need is 3 quarters to play...The last one who has a quarter left wins the pot. This gets exciting towards the end of the game with lots of hooting going on.

roughly with everyone starting with 3 fat quarters each how long does it take to get down to one player

The game goes quickly when players are paying attention. 15-30 minutes.

You could do a White Elephant gift exchange. Maybe everyone bring something pre-selected (like a charm pack or 3 fat quarters or yard of fabric). We did this monthly with our Ladies Luncheon Dinners using a price limit. One month was aprons, one was sun hats... Lots of fun.