If you have a lathe with no backlash in the halfnuts (good luck with that one), all you need is a mechanism to rotate the leadscrew briefly in one direction , then the other., by the correct amount.
A simple crank mechanism or eccentric mechanism as used on steam engines comes to mind as the most common directional reversing mechanism.
You could, theoretically, drill a large change gear on the end of the leadscrew and press or screw in a crankpin as such.
Then do the same with a small change gear on the quadrant. Set this up so the small gears teeth do not engage with the leadscrew gear. But join the two crank pins together with a suitable length piiece of flat bar with two holes to fit the two crank pins. Gears would have to be arranged so the link bar is at a tangent to the PCD of the crankpin on the larger gear. So as the small gear rotates, driven by the train of gears from the mandrel, its motion is translated into a small back and forth motion of the leadscrew gear by the crank and link assembly.
Calculating the exact PCDs of the two crankpins and the geartrain to drive the smaller gear is a job for wiser heads than mine. I would probably just bodge about with a sliding crank pin assembly until I accidentally got it right.
But it seems, on further reflection, that the small gear would need to run at 1:1 with the mandrel. So the tool returns to the same point once per revolution. The PCD of the crankpin on the small gear would have to give the total 'stroke" to move the crankpin on the large gear back and forth by the amount you want the leadscrew to turn, which can be determined from the lead screw pitch and the amount of "lead" on the groove.
If the amount of movement is more than one revolution of the leadscrew, the crank mechanism would have to be on the mandrel end of the gear train and suitable gears used to increase the rotary movement the correct amount.
Edited By Hopper on 17/12/2015 12:42:50