Yes, I might be wrong, since I approach interrupts as sort of multi-tasking. So, it might be possible to use it in they way I'd like it to be?

Like this sequence:

program starts, timer1 starts counting and after 4 ticks (or whatever value needed) it generates interrupt which jumps to another part of code. That another part of code, itself launches timer2, which again, after 4 ticks or whatever, generates interrupt, which jumps to 1st part of code.

Is this possible?

I guess, ASM will be needed.