For this question, assume...
That the inner wall of the enclosure and the surface of the ring are smooth.
A high vacuum level, but not a perfect vacuum. Rarified gas density is $\rho$.
That the ring has a circular cross section.
That the ring is large, so that its inner radius $\approx$ its outer radius. Therefore, it is reasonable to estimate the ring's surface area with $(2 \pi r) (\pi w)$, where: $r$ is the average of the inner and outer radii, and $w$ is the difference between the inner and outer radii.
That the gap, $d$, between the inner wall of the enclosure and the surface of the ring is small compared to $w$.
That the ring is travelling at a very high speed, $v$, such as 20,000 m/s.
I'm assuming here that it is possible to estimate the air friction from first principals, for example, by mathematically describing the physics of how the remaining gas molecules in the vacuum will transfer momentum as they bounce back and forth between the ring and the inner wall of the enclosure. But I'm open to any and all approaches.
Will the result be independent of the shape of the ring's cross-section?
Will the result be independent of the volume of the space between the ring and the enclosure?
If you know of a publication that provides an experimentally verified solution to this problem, please do share that!
Additional info requested in comments...
Air friction is one of the energy loss mechanisms that needs to be worked out to determine the energy consumption and operating costs of an inertially supported megastructure concept, such as an orbital ring, Lofstrom loop, or tethered ring. The sketch below was copied from an early paper by Keith Lofstrom on Lofstrom loops. In these kinds of proposed structures, the velocity of the magnetically confined mass stream is significantly higher orbital speed.