The Maestro could be programmed to run sequences concurrently, though it would not work as you described. You have to avoid using the delay command or any other blocking code. It would also not be trivial to implement. You can find an example that shows how it can be done in this post.
Alternatively, it might be easier for you to change your approach and rewrite your script so that it merges together the servo commands from your subroutines into one. Your script could do something like: start with the innermost servo, command it to move to a specific position, delay a small amount of time, command the next outermost servo to a specific position, and so on in order to propagate the wave motion outward. Those small delays in between the movement of the rings can then be updated for every loop.
-Jon