setInterval() and clearInterval() are much more elegant than this method. set interval is independent of the timeline and is actually based on time rather than the framerate.
ie...
//first we set a variable that will be the max number of seconds to wait before the timer is does it's thing
var maxNum:Number = 10;
function myDelay(){
//i will be the counter. When i is equal to or greater than 10 your actions will execute.
i=-1;
if(++i=>maxNum){
//clear the startTimer to stop the loop
clearInterval(startTimer)
//run your actions.
}
}
//start timer will run once every second (1000)
startTimer = setInterval(this,"myDelay()",1000)