Afaria offers customized alerts but they're mapped to custom events which are fired from Session policies through a worklist event in the channel. So you could create a channel that may evaluate a database field or run a VBScript to do more complex checks and then use the "Raise event" entry to fire the associate event, triggering the alarm.
This requires a client that supports Session policies which would be Win32, Windows Mobile, WinCE and Android. To get a regular schedule on this, however, you could create a Win32 client that's linked to the policy and is scheduled to run it every X minutes.
So it's theoretically possible but would take a good bit of research to identify what you could use to evaluate the failed logins and then build the scripting to raise the event.
If you would like to suggest a default alert be added for this to a future build you can do so from the Afaria Makes It Easy, SAP Idea Place. https://ideas.sap.com/afariamakesiteasy
Thanks,
Keith Nunn
SAP Active Global Support
SAP Canada