Hi Metfuel,
It just so happens that I have been doing the exact same thing recently.
You will need to have a datum plane running perpendicular through the o-ring. I use this to create an offset from the bottom of the o-ring groove, or other appropriate reference as required, to the datum plane at half the o-ring thickness.
Also you should have an axis to allow you to align you o-ring to the o-ring groove, assuming it to be circular.
If for some unusual situation you have an o-ring which is to fit into a irregular or non-circular groove, three datums would you best option possibly.
I hope this is of help
Best Regards
Dave