You have options, depending on how high you want it, do you simply want LEDs, do you want an acrylic strip perhaps with stickers for further customization, etc. If you want to go taller and have room for more customization, you are probably better off using ribs. I was content with just an extra 3/4" for LEDs and a wrapped layer for cup holders to slide underneath, as I didn't want to build them into the rail, itself. So, I made a split rail with inner and outer layers. Both have the same number of levels of plywood, same thickness, etc. It's split into an inner layer with a 1/4" level wrapped in a blue liner for ease of sliding between it and the felt. Then there is a 1/2 level that is on top of that which I mounted the LEDs to. The outer portion of the rail has both of these levels, minus the fabric, plus the 3/4' layer from the outer deck (main table level) and another 1/2" board that is the full 6 1/2 inches. The other levels are only 3 inches wide, so there is 1/2 inch of overhang from the top level with the foam and vinyl. I wrapped the entire top level, plus the additional 3 outer levels (all glued and bolted together). So the rail appears to be one solid piece, but it's actually two, which you can see in the pics if you go toward the top of this thread. The inner rail also bolts to the deck of the table. It makes the outer rail sliding into place super snug and easy, while also relieving some pressure from the staples on the felt, as the inner rail basically bolts the felt down. I still staple the felt, but I don't have to use nearly as many staples, which is nice when it comes time for a new felt. Pulling hundreds of staples SUCKS!!!
Hope this helps.
Jeremy