If you want to use an Ellipse and not a circle, two solutions:
1) Do the thing on a circle (because that's the only way you can center things), then chain-link the three paths and then use the scale tool on the circle to make it the required ellipse. Due to the chain links the two text paths will be scaled accordingly. However, this method also distorts the letters.
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TAP4.png [ 40.43 KiB | Viewed 1664 times ]
2) Use my
ofn-text-along-path script, that makes a lots of things easier (centering, positioning) and doesn't distort letters (even in the circle version with regular TAP see the difference between the T in "TEXT" (narrow bottom) and the one in "PATH" (wide bottom).
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TAP5.png [ 39.45 KiB | Viewed 1664 times ]