There are two latext packages that can be used for timelines: timeslins and chronology. This links discusses both of them, they seem pretty straightforward to use and chronology creates a nicely drawn figure.
http://stackoverflow.com/questions/217834/how-to-create-a-timeline-with-latex If your'e feeling more daring, you can also use TKIZ or PGF, which are LaTeX drawing packages.. The same link provides an example of how you might choose to do so. While it would be convenient if LyX provided this functionality, I think it is a more natural fit for Inkscape, gnuPlot, or one of the other plot figure programs. I would much prefer to use the limited development resources of LyX go toward improved XHTML support, easier customization of LaTeX document, a styles editor, or another feature which directly addresses the "customization learning curve." Just my two cents, though. Cheers, Rob