1. Create a display math inset. 2. Change the formula type to AMS Align. 3. In the first line, put A in the left box and =B in the right box. Hit Ctrl-Enter to start the second line. 4. Ignore the left box of the second line. With the cursor in the right box, type Ctrl-L \uncover<2->\{. The last \{ should create an inset surrounded by braces. Type =C in that inset. 5. Hit Ctrl-Enter to start the third line, and repeat the previous step but uncovering =D in the third overlay.
Paul