You can use the following at the start of your script to tell PHP to effectively never time out:
set_time_limit(0);
What may be wiser is, if crontab is going to run the script every 24 hours, set the timeout to 24 hours so that you don't get two copies running at the same time.
set_time_limit(24*60*60);
Crontab only allows minute-level execution because, that's the most often you should really be launching a script - there are startup/shutdown costs that make more rapid scheduling inefficient.
If your application requires a queue to be checked every 10 seconds a better strategy might be to have a single long-running script that does that checking and uses sleep() occasionally to stop itself from hogging system resources.
On a UNIX system such a script should really run as a daemon - have a look at the PEAR System_Daemon package to see how that can be accomplished simply.