We present DreamLLM-3D, a composite multimodal AI system behind an immersive art installation for dream re-experiencing. It enables automated dream content analysis for immersive dream-reliving, by integrating a Large Language Model (LLM) with text-to-3D Generative AI. The LLM processes voiced dream reports to identify key dream entities (characters and objects), social interaction, and dream sentiment. The extracted entities are visualized as dynamic 3D point clouds, with emotional data influencing the color and soundscapes of the virtual dream environment. Additionally, we propose an experiential AI-Dreamworker Hybrid paradigm. Our system and paradigm could potentially facilitate a more emotionally engaging dream-reliving experience, enhancing personal insights and creativity.