A single backup schedule can back up all files in a given folder and do so once a day or once an hour. You shouldn't need a backup schedule for each and every file each and every time that it is backed up.
But with the maximum number to keep being 99, won't I need to create atleast 2 separate schedules?
After further review, my backup schedule would be 12:45 AM - 11:45 PM, Monday-Sunday, hourly backup.
23 hours for 7 days = 161 maximum backups to keep
I'm thinking that I need to create 2 schedules:
A- Sunday-Wednesday, 23*4 = 92 backups to keep
B- Thursday-Saturday, 23*3 = 69 backups to keep
Fortunately the server will only backup the respective databases if there have been changes from the previous backup
Another options is to set up a system script to move the older copies out of the back up folder. Moving them to a different physical location is a good idea anyway.
Some users set up3rd party back up software to back up the contents of the back up folder and then keep just 2 copies in the back up folder, leaving the archiving of older back up copies to the back up software.