например - так

Код AS3:
var repeat:uint = 1800;
var t:Timer = new Timer(1000, repeat);
var min:uint = 30;
var sec:uint;
t.addEventListener(TimerEvent.TIMER, f)
t.start();
function f(e:TimerEvent) {
minutes.digit.text = String(uint(repeat / 60));
seconds.digit.text = String(repeat%60);
trace(uint(repeat / 60),repeat%60 );
repeat--;
}