Oh, by "Internet" I assumed you meant all external access, not just HTTP browsing. Either way, you're going to have to Cron an entry since we're talking access times...I think your easiest bet is going to be using ipChains. I'd be more than happy to assist you in implementing it.
As far as SQUID is concerned, I'm not a big user of Squid, as a result I'm not that educated on it either. I'd just check out the SQUID documentation, I can help you implement any setting you want into the templating system.