There are a number of plug-ins that will help you to get halfway to achieving this. Off the top of my head, Genarts Sapphire have a couple (RackDefocus/GlareRoundCoin). The trick is also to pull a high contrast matte, so that you’re not blurring everything, just the highlights which you want to dilate.
Alternatively you create a depth matte, and use a lens defocus tool on the image (again, using a hicon image).
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