You could have a NSTimer which starts when you choose a time from your pickerview.
timer = [NSTimer scheduledTimerWithTimeInterval:pickerValueInSeconds target:self selector:@selector(updateMethod) userInfo:nil repeats:NO];
You choose no repeat, then in your updateMethod you make a request:
-(void)updateMethod
{
    NSString *url = @"url...";
    NSURLRequest *theRequest=[NSURLRequest requestWithURL:[NSURL URLWithString:someURL]
                                        cachePolicy:NSURLRequestUseProtocolCachePolicy
                                          timeoutInterval:20.0]; // with some timeout interval.
    // create the connection with the request
    // and start loading the data
    NSURLConnection *theConnection=[[NSURLConnection alloc] initWithRequest:theRequest delegate:self];
    if(theConnection) 
    {
        // Create the NSMutableData to hold the received data.
        // receivedData is an instance variable declared elsewhere.
        systemsData = [[NSMutableData data] retain];
    } 
    else 
    {
        // Inform the user that the connection failed.
        NSLog(@"NSURLConnection failed!");
    }
}
Now in your 
-(void)connectionDidFinishLoading:(NSURLConnection *)connection
and 
-(void)connection:(NSURLConnection *)connection didFailWithError:(NSError *)error 
you take care of the data or error and then start a new timer.. 
Note that you also need to implement 
-(void)connection:(NSURLConnection *)connection didReceiveResponse:(NSURLResponse *)response
{
    [systemsData setLength:0];
}
and 
- (void)connection:(NSURLConnection *)connection didReceiveData:(NSData *)data
{
    [systemsData appendData:data];
}