LERP between two materials?

It’s not really anything different than what I described to blend more than 2. There are many ways to go about it.

You could either stagger multiple Lerp nodes in the material, such that there would be a layer priority, and then make sure you control the alpha values correctly.

An alternate way to do this would be just use ONE lerp node, and make both textures texture parameters. Then inside the BP you could change the textureparameters by leapfrogging them. What I mean by that is:
You blend between A and B. When B gets to 100% (meaning alpha hit 1), then you swap A to a new texture, and then to continue your fade in reverse, taking the alpha from 1 to 0. Then when it gets to 0 again, this time you change texture B and afterwards ramp from 0 to 1 again. You could do this indefinitely and the blueprint script to do so should be very straightforward.