A rotational power slips system includes a static base comprising at least one circular opening; a rotating ring disposed within the static base and including a circular outer surface interfacing with the static base; at least one slips wedge disposed within the rotating ring and including a radially inner grip surface for gripping at least one component of a drilling string; and at least one wedge actuator disposed on the rotating ring and rotatably coupled to both the rotating ring and the slips wedge, thereby causing the slips wedge to move while the component of a drilling string is rotating.