> I get a full rotation because I've followed the earth's curvature all the way around the globe once, even though I'm walking straight without rolling.
I don't follow. You aren't walking straight without rolling. You're constantly turning to keep the angle from the center of the earth to your head, as measured through your feet, fixed. This is not a necessary part of moving around the earth; you could maintain a constant orientation to e.g. the earth's axis of rotation instead. The one rotation that you're imagining isn't due to your travel around the earth; it's due to the rolling that you're pretending you aren't doing along the way.
I tried defining a parametric equation for the position of a point on the rim of the small outer circle; if it has radius r, and it starts at coordinates (3r, 0) lying tangent to a circle of radius 3r centered at the origin, and it takes 2pi units of time to roll around the larger circle, then its position at time t is
(4r cos t, 4r sin t) - (r cos 3t, r sin 3t)
(unless I've made a mistake...?)
We then need to define what a "revolution" is. If we define it in what appears to me to be the obvious way, as having been completed whenever the vector from the center of the outer circle to the point that we're tracking on its rim is parallel to its initial value of (-r, 0), then this parameterization makes it clear that the zeroth revolution of the outer circle ends at time t = 0, the first ends at t = 2pi / 3, the second ends at t = 4pi / 3, and the third ends at t = 6pi / 3. Since the maximum value of t is 6pi / 3, it appears that there cannot be more than three revolutions.
However, I find the argument compelling that we should be able to get the number of revolutions by dividing the distance traveled by the center of the circle - 8pi - by the circumference of the circle, 2pi. This clearly tells us that there must have been four revolutions.
What was wrong with the parameterization approach?