However, quaterly seems a bit extreme to the point of being nagging/needy. Consider how your relationship with someone changes if they kept asking the same question. I would think at some point you would become the "ugh, he's asking for a raise again" guy. So the worst case isn't a NO. The worst case is you get filed as "that guy".
Maybe space it out while asking for bigger ones?
How many times have you asked for a raise with this schedule?