Modify Cycle Set sequence based on counter outcome

Dear Experts,
I have a question with relation to multiple counter plan. We have a scenario where we have 3 cycles based on time and one based on counter. Now the requirement is, when the counter crosses a particular value - for example - if we consider failures - and the equipment fails 3 times, we have to restart the sequence from the beginning, or in other words, the day of performing maintenance based on counter should become the new Start date of the plan/ cycle set.
Also the other thing is, the number of failures need not be regular - so we should not get any maintenance calls for the same.
I tested different options in multiple counter plan, but I dont see a standard solution for the above scenario.
Has any of you come across such scenarios? And do you have a solution?
Regards,
Veera

Dear Pete,
I have proposed the same solution to business - around the time I posted this query. I was about to leave, when I saw replies from you and Mahesh.
Thanks. I am marking yours as the answer, as I feel that we don't have any other alternative.
By the way, Mahesh, you are correct, we cannot maintain multiple time based and performance based alternatives in multiple counter plan. Also, the problem for prediction, is that the plan depends on annual estimate to give a call, and in practical circumstances, will not be able to predict the performance based counter unless it has daily entry.
But what we can maintain is a sequence of activities on time or performance, based on the cycle set sequence.
Regards,
Veera

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