time said:
"the way you compare the two is by judging how long it would take light to travel through that portion of space"
Yes, according to how we measure time in our created sphere. This means we think if time were the same (or even applicable) outside our bubble, that it would limit all things the same way.
"From a different point of reference, what one person measured as time would appear to be space and vice versa, but the distances would still be equal."
Yes, this is how it would work if God, and all creation were in the dome, or bubble, that God made for us.
It is also how it would work if there were more to the universe than what we see. It would be true in either case.
time said:
"We are ruled by time in the same way that we are ruled by space, meaning that we will always inhabit it"
Well for Christians we can look forward to a 'time' where there will be 'time no more'! And as already mentioned, God isn't bound by time now. So we will not always be ruled by it.
There is no "time" when/where time ends. If the universe has limited volume (which is likely) then time also is limited, and just as space does not exist where there is no space, time does not exist beyond the end of time. Neither does space. Our physical bodies are part of time and space, so they can't exist outside of time and space either. All of the physical processes that allow us to live rely on space and time, and cannot take place without them.
If there is a God, then it's quite likely that He isn't part of space and time--we seem to agree on that. However, humans' bodies only exist the same way that planets exist--as physical bodies that are part of time--so we can't exist outside of time. The only way any aspect could exist outside of time would be if there was a component to our existence that was eternal, which could exist regardless of whether there was space and time. There's no evidence for this idea, but it's not completely out of the question. The part that's out of the question is that our physical bodies could also exist beyond time.
And because our thoughts and actions are products of our physical bodies, (And are themselves physical,) they are subject to the same laws that govern the rest of the space and time.
time said:
"showing that time moves at slightly different rates in different places"
Yes, and they are travelling in our bubble. I think of it like a gigantic geodesic dome, covering our solar system. In it, we are bound by time.
As I said before, we are only bound by time in the same way that we are bound by space. You seem to be assuming once again that the laws of physics only exist in the parts of the universe that we can see.
First of all, the size of the portion of the universe that we can see is larger than you may realize. Stars that formed billions of years ago and are billions of light-years away can be seen now, since the light that they produced billions of years ago took billions of years to reach us. The laws of physics have to be this way in a potion of the universe large enough to contain several galaxies.
There is no reason to belive that they are any different elsewhere, since as I said before the limitations in how much of the universe we can see are only products of the speed at which information can travel. In any case, in as much of the universe as is able to affect us, time behaves in the same way as space. This can be observed, and whether or not the parts of the universe that cannot affect us behave differently is irrelevant.