This creature has wings that use 3DS Max's Reactor Cloth, and it has hi-poly geometry. My suggestion:
1. animate the character with the 'work geometry' layer I created in the 'Manage Layers' window. Hide the 'Render geometry' and unhide the 'work geometry' and 'controls' layer in order to save memory and work faster.
2. Once the animation is complete, click on 'create animation' in the Reactor dialog box. VERY IMPORTANT The character need to always start in the 'skin pose' position in order for the wings to work properly. If you loose the original keys you can always do 'assume skin pose.' There in an example in the file.