Hey geekcubed,
I don't believe you are running into a throttling issue. You can verify that it's not a throttling issue by adding an artificial delay between calls (maybe about a second between each call), if you still see a timeout, then it's not a throttling issue.
Can you tell me a bit more about how you make the calls, specifically:
1) What are the timeout parameters on your side? (after how long will a call timeout)
2) Where is your application hosted?
Using Endpoints is probably a better solution than making multiple API calls:
In the Lithium community application we allow our customers to create endpoints. You can read more about them here. If you work with someone who has access to Studio in the Lithium application, they will be able to set up an endpoint to make all the calls (thus reducing number of calls made from the external application). From the external application, you will then only need to call the endpoint rather than all the rest APIs.
Thank you,
Yuri