Well, another working solution based on Cody's answer but a little more general can be something like this:
function timedAlert(msg, timing){
setTimeout(function(){
alert(msg);
}, timing);
}
function yourFunction(time, counter){
for (var i = 1; i <= counter; i++) {
var msg = i, timing = i * time * 1000; //this is in seconds
timedAlert (msg, timing);
};
}
yourFunction(timeInSeconds, counter); // well here are the values of your choice.