You are in luck, there happens to be a obscure and rarely used, mostly legacy, feature that does just what you want. This is more luck than anything else. It may or may not be practical for your particular case. Scripting is a much better solution for genral tasks like this, like if you want random values use script.
When you use type on path, there is a option box for the tool in, Type → Type on Path → Options…. This dialog has options for how to stack letters on the path, it is mostly useless, but happens to have a solution for this case. In the effect dropdown of this dialog choose stairstep.
Image 1: Stair step effect does what you want
Disclaimer: The stairstep effect rotates towards your base objects rotatin source so if you want to change the rotation direction do not rotate the object just the path under the object.
Source : Link , Question Author : georgmierau , Answer Author : joojaa