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Create a timer with setInterval and clearInterval.

setInterval(function,timeout);

Calls function every timeout (in miliseconds). Returns intervalId.

clearInterval(intervalID);

Cancels an interval created by a call to setInterval().

Example: 

function outoftime()
{
	Edit1 = "Out of time";
	clearInterval(interval1); // stop repeating this function
}

// set 2000 miliseconds timer (2000 ms = 2 seconds)
interval1 = setInterval(outoftime,2000);

Download source project t1051.zip (1 kb)

  1. Launch Flash Designer and set movie dimensions 300 x 300.
  2. Create edit filed that will appear as Edit1
  3. Choose "Frame" > "ActionScript" and paste the example code.
  4. Set frame delay to stop ("Frame" > "Frame Delay").
  5. Hit F9 to play the file