You will need (per encoder): Set "Enc1Ring" with States "Meter" (default) and "Value". You will need 2 monitors and 1 timer, so "Encoder 1 action looks like"
* Track 1 Volume
* Enc1Ring: Meter - Meter monitor
* Enc1Ring: Value - Value monitor
* Timer Once (Once is important, it should not trigger periodically)
* Value (endless, MIDI/Fine, whatever)
* Set state Enc1Ring = Value
* Monitor Reset "Encoder 1: Timer" (the one 3 lines before), 3 seconds
In the Timer, you just have:
* Set state Enc1Rung = Meter, "Set engine state = yes" (important!)
Monitors you already know.
In is important either put Enc1Ring = Value AFTER monitors (at least Level and Meter), or set "Set engine state" for it. We do not want it is set during monitoring cycles, even temporarily.
You already see the answer on your question how to retrigger, since Monitor/Timer has only one counter, every time you ask to trigger after 3 seconds, you shift the time it will be triggered.
I use it in my StudioMix preset (to avoid jitter and solve "chicken and eggs" problem of not touch sensitive faders), but it is not yet ready. So I hope you understand it without working coded example.