You can do this using regular, default events, and you can even set your own time limit.
I propose the following events, note that the first field is enabled, second field is delay, etc.. and that the second events delay is the double-click speed:
1 0 onActivate -> self -> toggleEventEnabled - 0 1 2 3
1 250 onActivate -> self -> toggleEventEnabled - 0 1 2 3
0 0 onActivate -> self -> fireRelay
0 0 onRelay -> self -> (Do Stuff Here)