Hi Alex,
nxweb's event loop timers are complicated and not so flexible as in libev.
The easiest way to accomplish your task is to launch your own thread (simply with pthread_create) that will execute your function and sleep for the time interval. I presume your function is going to modify some shared data. Make sure you use a mutex to avoid concurrecy problems. You will need mutex even when using event timers as there are several network threads anyway.
You can launch the thread in on_server_startup callback of your module. Make sure it is daemon thread so it will not affect server shutdown.
Yaroslav