Initial results from a newly developed model of the interacting ring current ions and ion cyclotron waves are presented. The model is based on the system of two kinetic equations: one equation describes the ring current ion dynamics, and another equation describes wave evolution. The system gives a self-consistent description of the ring current ions and ion cyclotron waves in a quasilinear approach. These equations for the ion phase space distribution function and for the wave power spectral density were solved on a global magnetospheric scale under nonsteady state conditions during the 2--5 May 1998 storm. The structure and dynamics of the ring current proton precipitating flux regions and the ion cyclotron wave-active zones during extreme geomagnetic disturbances on 4 May 1998 are presented and discussed in detail.