Modify Auto-Wait Timeout through Code

OK, think I understand what you mean, you want to set your own maximum time to wait for an object to exist rather than use the auto-wait timeout that is set for the project? 

A function like the one below will wait for the object to exist or until the max time is reached:

function WaitUntilExists(object, maxTime)
{
  var wait = 0;

  while(object["Exists"] != true && wait < maxTime)
  {
    // Delay for 1 second
    Delay(1000);
    // Add the delay time on to the total wait time
    wait += 1000;
  }
}

So you would call it like:

// This would wait for someObject for 10 seconds

WaitUntilExists(someObject, 10000);

// This would wait for someObject for one hour

WaitUntilExists(someObject, 3600000);