Maybe something like this is what you are looking for.
The use of the occurrence is optional. The timer will exit prematurely if the occurrence is set.
Beware: The timing is valid only within a "series" of calls without setting the occurrence. This is not a finished VI.
By splitting the total wait time into smaller portions, the maximum deviation of the first loop from the wished time is equal to this value. I have set the loop time minimum to 5 to free up the CPU.
Regards
Shane.
Using LV 6.1 and 8.2.1 on W2k (SP4) and WXP (SP2)