Thank you Superku! I got it to work with engine_getvar.
Code:
STRING* LookAt_msg = " ";
STRING* msg_1 = "This is a test.";
...
STRING** temp_msg = (STRING**)engine_getvar(_chr(my.string1),NULL); // entity.string1 is "msg_1"
str_cpy(LookAt_msg,*temp_msg); // LookAt_msg now is "This is a test."