I am not sure how to schedule the reports as I don't use that function but you can handle the record limitations by using a select statement, something like this..

It assumes that you have the same repiort scheduled on the M-F @ the 3 specified times.

 

datediff('d',currentdate,field)=0
and
(
(currenttime  in time(8,59,00) and time(9,1,0)
and time(field) in time(7,00,00) and time(8,30,0))
or
(currenttime  in time(10,59,00) and time(11,1,0)
and time(field) in time(8,30,01) and time(10,30,0))
or
(currenttime  in time(12,59,00) and time(13,1,0)
and time(field) in time(10,30,01) and time(12,30,0))
)

 

datediff('d',currentdate,field)=0
and
(
(currenttime  in time(8,59,00) to time(9,1,0)
and time(field) in time(7,00,00) to time(8,30,0))
or
(currenttime  in time(10,59,00) to time(11,1,0)
and time(field) in time(8,30,01) to time(10,30,0))
or
(currenttime  in time(12,59,00) to time(13,1,0)
and time(field) in time(10,30,01) to time(12,30,0))
)