It would be good for this feature to be compatible for not just 2 cuts, but 3 or 4 maybe more. It could easily be an addon to the current ring cut tool. At the moment when you make a single ring cut you can then select where to place it, I would like to see in the future when you select to make 2 cuts that you can then scroll the mouse to adjust the pinch (or position them with the mouse). For 4 cut loops, you could select to distribute the cuts evenly, or as a function like:
y = x^n + … + x^2 + x^1 + c, where y is the distance between a cut and the next, n is the cut index from the middle (or outside), c an offset, and x the value your mouse scroll effects. each x value could also have a multiplier, and you could also use sin functions.
It might be better though if these where used as custom properties. Though, re thinking this, it would be rare that you would use all this unless you where writing a script to generate a certain mesh based on a given set of parameters. Maybe just keep it simple, just leave it at pinch?