Creating Annual Billing Schedule

Here is what we are trying to do.  Perhaps someone can tell me what is possible to do.

We would like to show the annual price of a "maintenance" package in our web store. When a customer purchases that package we would bill the customer that annual amount each year (can we automate this).  We would prefer not to show a 3 year price for the item and use a 1/3 billing schedule.

The package consists of a number of drop ship items that would need to be ordered initially. (P.O. auto generated upon approval)  I would like this to happen the first year and not for the subsequent 2 years.