Hi Thomas,
TweenMax can do just that. TweenMax is the -best- tweening engine you'll be able to find for AS3.
Mostly used for tweening values like x and y positions, it can also tween custom variables if you wish.
http://www.greensock.com/tweenmax/
You could also use an ENTER_FRAME listener, but TweenMax allows you to do it with less code.
Kind regards,
Pieter
General notice: from now on, I would like to ask everyone to put [AS2] or [AS3] (corresponding to the version of actionscript you are using on your project) in front of their post titles when the question is actionscript related! Please help us help you faster. Thank you.