We present an original design of an electrodynamic levitation chamber (EDLC) with parallel double-plate and double-ring electrodes for investigations of microphysical characteristics of charged aerosol particles. The theory of microparticle motion in the EDLC volume is developed, and analytical equations for the particle oscillation amplitude and displacement of the particle center of oscillation depending on the voltage across the electrodes are obtained. The motion stability boundary for particles of different substances for this EDLC is theoretically determined. Experimental results concerning EDLC characteristics agree well with theoretical predictions. The linear voltage dependence of the amplitude and displacement of the particle oscillation center is found.