I don't have much experience with a .bat file (and maybe what I'm going to write is pointless), but I was wondering if GOTO and delay could solve your problem.
:label <do stuff> SLEEP 300 GOTO label
LE: Well, I found something that could help you:
schtasks /create /sc minute /mo 5 /tn "TaskName" /tr \\scripts\whatever.bat
This line should do the trick. For more information, you can visit https://technet.microsoft.com/en-us/library/cc772785(v=ws.10).aspx
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