It would all come down to Thor vs the Lanterns, with an assist from Loki. He is the only one with the defensive and offensive capabilities to go toe to toe with a Lantern for a prolonged period of time IMO, and Loki's mind manipulation should be strong enough to decrease the effectiveness of the power rings. There is only one question IMO.
1. Can his team last long enough to occupy the other Lanterns while Thor takes them out one at a time? I think that they can.
Kneejerk is lanterns.
Gods would need Loki to do something big in order to pull home this one. Lanterns rely on concentration and so on. I don't think it would be that much of a stretch to assume that a telepath/master of trickery such as Loki could do something nasty to them.
Other than that, the god-team is heavily outgunned.