You could save on a set time, by using timeout, but, a better method may be to just have some sort of onchange event handler, so that when data is changed, if you haven't saved within a set amount of time, then save, but, don't save on every keystroke.
So, you look to see when you last saved, before calling the ajax function.
This will enable you to save only when needed, but at a predetermined rate. So, if you want to save every 5 minutes, then regardless of what changes were made, if a change was made within that 5 minute window you save.
Making the ajax call is trivial, but jQuery can simplify it. Unfortunately, to get what you want, from what I have seen, you will need to just implement your own functionality. It is difficult to do in a general way as different people may want to save if only certain fields are changed. So, just because I click on a select box may not lead to the save function, but changing something in a text box may.