How do you handle multiple instances of setTimeout()?

Question

What is the most recommended/best way to stop multiple instances of a setTimeout function from being created (in javascript)?

An example (psuedo code):

Answer 1

I'm using this to force a garbage collection on all obsolete timeout references which really un-lagged my script preformance:

var TopObjList = new Array();
function ColorCycle( theId, theIndex, RefPoint ) {
    ...
    ...
    ...
    TopObjList.push(setTimeout( function() { ColorCycle( theId, theIndex ,CCr ); },CC_speed));
    TO_l = TopObjList.length;
    if (TO_l > 8888) {
        for (CCl=4777; CCl

My original sloppy code was generating a massive array 100,000+ deep over a very short time but this really did the trick!