Timed scripts without locking up functionality

[Magicgate Software - Skip Kimpel]

I am having a hard time researching a solution since most of the forums are
down :)  Here is my issue, hopefully somebody has the simple answer to my
question...

I have a script that runs every two minutes and I have been calling it with:

on mouseUp
  wait for 120 seconds
  processRequest
end mouseUp

I then call a repeat script that keeps checking for the status and
repeating it until a condition is met.  Obviously when I do this it locks
up my software until the condition has been satisfied.

How can I do this without locking everything up?