I may be missing something here, but I think your problem is not the Elapsed Time VI, but the way your events are triggered/controled or chained. Or may be you just forgot to wrap the Elapsed time vi into a loop ?
See the attached example...
The "Run event A" sub.vi is intended to trigger event A. Something like commuting a switch or launching a dynamically loaded vi. It should not wait until event A finishes (of course...).
There are many possibilities... and I'm sure that you will get other solutions.
Keep wiring !
Chilly Charly (aka CC)