Dust grains in the ring systems and rapidly rotating magnetospheres of the outer planets such as Jupiter and Saturn may be sufficiently charged that the magnetic and electric forces on them are comparable with the gravitational force. The adiabatic theory of charged particle motion has previously been applied to electrons and atomic size particles. But it is also applicable to these charged dust grains in the micrometer and smaller size range. We derive here the guiding center equation of motion, drift velocity, and parallel equation of motion for these grains in a rotating magnetosphere. The effects of periodic grain charge-discharge have not been treated previously and have been included in this analysis. Grain charge is affected by the surrounding plasma properties and by the grain plasma velocity (among other factors), both of which may vary over the gyrocircle. The resulting charge-discharge process at the gyrofrequency destroys the invariance of the magnetic moment and causes a grain to move radially. The magnetic moment may increase or decrease, depending on the gyrophase of the charge variation. If it decreases, the motion is always toward synchronous radius for an equatorial grain. But the orbit becomes circular before the grain reaches synchronous radius, a conclusion that follows from an exact constant of the motion. This circularization can be viewed as a consequence of the gradual reduction in the magnetic moment. This circularization also suggests that dust grains leaving Io could not reach the region of the Jovian ring, but several effects could change that conclusion. Excellent qualitative and quantitative agreement is obtained between adiabatic theory and detailed numerical orbit integrations.