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You can do it based on how many times you got it right, but I think a more sensible approach is to do it based on how many times you've go it wrong. Anki does this through its concept of leeches and the way that it's explained makes alot of sense to me. So much so that I've cut my leech threshold in half to 4. If my brain is having a hard time remembering something, it's probably not the best usage of my time to just mindlessly keep drilling.

https://docs.ankiweb.net/leeches.html

As an example, if you're learning a langauge and studying vocab, you could discard any cards that have over 90 days interval. After all, you're going to meet that word while reading a book or watching something in the target language in the next 90 days, and if not - you shouldn't have memorized that word anyway.

Not sure how. I have flashcards that are due a decade from now. Everyday you'll have cards that are due after you die.