Help With a Looping Macro

[CurlyWS]

Im using ableton live at the moment and came up with an idea which will greatly help me. It requires a macro.

I want it to perform the action on a single track audio file whilst its recording.

After a midi note is received,
- Chop the last 16/8/4/2/1 bars
- Bring that up as a sample (sample not playing)

I need this to perform whilst recording is this possible?
and if not, does anyone know of any other DAW which could process this with minimal latency.