Well I don't say this too often but "you can't do this in an action". However, you can do it in the UI with a minimum number of keystrokes.

Before you start, in Preferences - General, enable the 'Update preview on selection changes' option.

Now set up a few keyboard shortcuts in Preferences - Shortcuts. Navigate Up and Down should be preset to Command - up arrow and command down arrow. If not you can set them to whatever you'd like. Now in Preferences-ShortCuts-Edit-Edit Rating Values assign Command-0 through Command-5 to the rating values.

Here's the workflow.

1) load the tracks you want to rate
2) select the first track
3) hit the spacebar. A preview window will open and start playing
4) give the focus back to Yate
5) hit Command 0 through Command 5 to rate the track
6) hit Command Down to move to the next track. The preview window will play the selection.
7) repeat 5 and 6
8) hit spacebar to remove the preview window or close it
9) Save from the toolbar or File menu to save all changes

Cool, thanks for quick reply 🙂