You could create another backward looking view (look up view in the 3d game studio wdl manual), and place the view up at the top of your normal foward looking 3d view. In other words, you have 2 camera views on the one screen. Your main foward looking view takes up all the screen, with a small backward looking view placed on top of your main view. Thats how I create my rearview mirrors. Yes, It works with every version of 3d game studio. There's information on creating secondry views in the 3d game studio manual.
I hope that helps 