Slip ring–brush assemblies are widely used in satellite mechanisms to transmit power and signals across rotating interfaces. Under authentic space environments—vacuum, radiation-dominated thermal exchange, and long-duration operation—the coupled effects of mechanical contact dynamics, electrical conduction, intermittent separation, and arcing can accelerate wear and degrade reliability. This paper presents a surface-resolved multiphysics model for multi-track slip rings with staggered brushes. The ring surface is discretized on a circumferential–axial grid and endowed with correlated 3D roughness, enabling interference-based asperity contact. Brush normal dynamics (mass–spring–damper) convert runout and micro-vibration into normal-force ripple and separation events. Electrical conduction is modeled by a parallel admittance network combining pressure-dependent micro-contact conduction and an event-based arc channel activated by separation, opening velocity, and current density with stochastic ignition. A 2D thermal model with ADI integration accounts for Joule/friction heating, radiative cooling, and optional hub conduction. Wear evolves via an Archard-type mechanical term and an arc-energy-driven erosive term. A FAST–MACRO multiscale scheme (20 s FAST, 100 h MACRO with periodic recalibration) enables tractable long-horizon wear prediction while preserving arc statistics. Baseline simulations for a 28 V bus demonstrate rare but nonzero arc activity and predict spatially non-uniform wear at the micrometer scale after 100 h.