Can I select certain drives only for Time Machine backup?

I have several internal drives and several external drives connected to my MacPro desktop computer. If I backup everything in all of the drives using Time Machine, the capacity on my designated external drive for Time Machine backup will soon be filled. Is there any way to selectively backup via Time Machine from only designated drives, not all drives connected (internally or externally) to my computer? Is so, how can that be done? I assume that Time Machine will start deleting data when its capacity is exceeded. If that is so, and I remove the designated Time Machine drive at that point and replace it with a new drive, will the removed drive thereafter be able to be reinserted and the prior material read and transferred as needed? Is there any way to utilized Time Machine after I insert the replacement drive to only archive new material saved after the switch of drives?