Plot: Multiple past lives replayed in a chain of dreams. I do like Mogi's idea of further down the line, the guy wondering what is up with that. At the end, the lives unite to fight the evil guy who has been plaguing him in all of his existences.

Characters: Whoever you want for your chapter.

Items: I think we should standardise these, yeah.

Weapons: Whatever you want for your chapter.

Levelling: Again, entirely up to you. I'm probably going with no levelling, or levelling with plot events for my chapter.

Monsters: As above.

Basically, think of a short story in whatever setting you want, and go hog wild with it.