No you can't. Programs can only look at blocks in the past, not the future and there is no "until a block is found" operation.
Check
Ethereum Alarm Clock"An ethereum contract that facilitates scheduling function calls for a specified block in the future."
But you'd have to cap the number of your operations, true.
The Ethereum alarm clock doesn't work that way. Your program can't "loop and wait for the next block" the way AlexGR described. For one thing, the alarm clock events are a part of a separate transaction and only one transaction (logically) executes at a time.