Does the watch have interval mode ?

I time intervals using the split feature in the chrono mode.

What kind of battery does it use and how long does it last

Don't know the kind of battery. Experience in past is it last about 3 years. I have taken a similar watch to a jeweler that sells and services Bolivia watches and had the battery successfully replaced for around $10.00 and last another 3 years.

Can two seperate countdowns be placed? For example, can I have it countdown from 40 then countdown from 1:00 and have it repeat in that interval?

Hi there! This watch style only has 1 countdown timer and doesn't have the interval feature with multiple timers . For further enquiries you may call our customer service team at 800-448-4639 or send us an email at custserv@timex.com.

Can i get replacement bands for model timex men's tw5m24200 digital ironman watch?

The replacement strap is currently out of stock from our website, Timex.com. You can also send the watch in to Timex for a band replacement and let our Repair Facility replace the band for you. For further assistance or questions, please let me know or call our customer service center at 800-448-4639.