While you wearing a Broken Ring of Ending use on it String of Mending.After that you will lose. When you create Ring of Ending from those items then yes, you will lose them. The next step is just wait for all phases of the ring. :D You have only 50% chance to make it successful but if you die you will lose it and you won't get your items back.
Tip for pvp worlds - gather 5-6 friends, make a skull and let them attack you while you doing a ring. If you die you will lose only Twist instead of all blessings.