Split one long clip into smaller ones

I have a project for an amateur dramatics group production that I'm editing.

I filmed it on two cameras, in one long take for each half of the show.

It was filmed over 5 nights so I essentially have 5 'takes' of the show. I want to be able to split the half's down into separate acts so I can pick and choose the best parts to get one great show.

I can't seem to find a way to do this. I can obviously slice the half into acts in the timeline, but I can't find a way to make the cuts into separate events that I can put together in another timeline.

Has anyone found a way to do this yet?

(Sorry if it's a bit hard to understand!)

Thanks,

Chris