I am not familiar with that terminology, however you can certainly make routing decisions within Attendant, or in a Handler, based on metrics like the ones you describe. For example, if the avg wait in the queue is less than 2 minutes, place it in the queue. If it's between 2 and 4 minutes, offer4 a callback. If it's over 4 minutes, force to callback. (Obviously, those values are simple examples, as are the actions). You could also choose between queues based on something like number of calls in the queue, although depending on the nature of the queues and the calls, you may find it more efficient to combine the queues. If necessary, you can sub-divide them using skills. (It all depends on exactly what you are trying to achieve)
I strongly recommend you attend the "Configuring Call Flows" class for more information on this. For more complex requirements, the Handler Training (ICHD) whould be appropriate.
HTH