Interval Movie Recording

[Ihoujin]

I would like to see a new movie / RAW movie setting akin to the intervalometer to take video clips of set lengths at set intervals.
For example record for X seconds starting every Y seconds or minutes, when X<Y.
In other words to record a 60 second clip every 3 minutes. Start recording, after 60 seconds it automatically stops, waits 120 seconds and begins recording another clip 3 minutes after the start of the sequence, and so on until triggered or programmed to stop after so many shots.

Edit: Clarifying the phrasing.