The RR scheduling policy is identical to FIFO, except that the thread will not run forever if there's another thread at the same priority. It runs only for a system-defined timeslice whose value you can determine by using the function sched_rr_get_interval(). The timeslice is usually 4 ms, but it's actually 4 times the ticksize, which you can query or set with ClockPeriod().
What happens is that the kernel starts an RR thread, and notes the time. If the RR thread is running for a while, the time allotted to it will be up (the timeslice will have expired). The kernel looks to see if there's another thread at the same priority that's ready. If there is, the kernel runs it. If not, then the kernel will continue running the RR thread (i.e., the kernel grants the thread another timeslice).