Im going to assume you mean $ip since you said "3.14..." and also assume you ment within scripts rather than on the prompt where using one / well produce $ip as the output.
that being said.

Even with that switch it would not display "$ip" becuase assuming -n didnt evaluate while creating the timer, the echo would evaluate $ip when its ran.
To get what you said u would need with your switch //timer -n 1 1 echo $!ip
As it stands now that would need to be //timer 1 1 echo $!!ip

Now if you wanted it to work like this
at 12:00:00 this is entered //timer 1 10 echo the time is $time
at 12:00:10 this is displayed "the time is 12:00:10"
and not what it DOES DO "the time is 12:00:00"

then you can use this
//timer 1 1 $(echo the time is $time,0)

just surround the code with $( ,0), simple you get the $( ,0) evaluated as the contents unchanged!

even this works fine
//timer 1 1 $(if ($get(0) < 2) { echo -a Less than two gets! },0)