I downloaded a free ActiveX timer control, and I was able to add five timers to my form to control multiple objects. The timer I downloaded can be found at http://www.simtel.net/pub/pd/37214.html
The product is recommended for win95/98/me, but I successful installed it on a win2000. You just need to manually register it,
Start->Run->
regsvr32.exe hirestimer.ocx
Add the timers to your form by clicking the ActiveX Controls button on your toolbar, the timer control name is HiRes Timer Control. Set the timer intervals for the control by right-clicking then properties. Then depending on which intervals your objects need to be controlled by, enter the code for the appropriate timer control's timer event.