This can be done, I use a "Main Program" (it controls the offset) and a "Sub Program" (it controls the tool path)
O2120 (MAIN PROGRAM)
G10 P0 X0.0 Z0.0 [SETS WORK OFFSET TO ZERO]
G65 P2121 L1 [RUNS SUB PROGRAM]
G10 P0 X0.0 Z0.450 [SETS WORK OFFSET IN TO 0.450] {THIS MAY BE NEGATIVE ON YOUR CONTROLLER}
G65 P2121 L1 [RUNS SUB PROGRAM]
G10 P0 X0.0 Z0.900 [SETS WORK OFFSET IN TO 0.900]
G65 P2121 L1 [RUNS SUB PROGRAM]
REPEAT AS MANY TIMES AS YOU LIKE
G10 P0 X0.0 Z0.0 [SET WORK OFFSET BACK TO ZERO] {I DO THIS AT THE END FOR SAFETY}
G28 U0.0
M30
%
O2121 (SUB PROGRAM)
(1" MATERIAL)
(1.7" ON PULL STICK)
(20.125" SAW CUT)
G20 G40
(0.087 WIDE PART OFF)
T1111
G99
G50 S2000
G96 S8000 M03
M08
G00 X1.05
G00 Z-0.430
G01 X-0.05 F0.008
G50 S25
M09
T0000
G28 U0.0
M18
M99
%
Hope this helps.
Tony