I suggest you use a cron job - PHP is well suited to running short processes at high frequencies.
A cron job would be perfect - depending on the number of SMS / granularity you could configure it to run a php script every 5 mins.
One way to edit the cron tab of is:
crontab -e
And insert a link to the script
*/5 * * * * /path/to/script.php
Is the entry that you are looking for - */5 indicating every 5 mins.
The script would then need to query what SMS are due to be sent - i assume you are storing these in the DB. And then send the SMS.
Your PHP script can be set to be executable
chmod a+x script.php
And you need to set the PHP shell in the first line of your script
#!/usr/bin/php -q
Adjusting the path to where PHP is installed on your system
I hope this helps.