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How to have multiple child iterations active under a parent iteration?

I am currently using RTC 3.0.1.6 and will be upgrading to RTC 5.0.2 soon.
I have an RTC project that encompasses several applications.
They have chosen to manage their timelines by using a parent iteration (with release) and multiple child iterations (all falling in the date range of the parent) under the parent.
They would ideally like to have multiple child iterations and the parent active(set as current) at any given time as that would accurately reflect what is happening. T his doesn't seem to be possible with out nesting further children.
Is this possible in 3.x or 5.x?
The only thing I can think is to nest them further but that would seem to get very messy.
One answer
