Had an extra two minutes and whipped this up. Let me know if you see any serious problems with it:
Melf's Minute Meteors
Evocation (Fire)
Level: Wiz/Sor 3
Components: V,S,F
Casting Time: 1 actoin
Range: Personal
Target: You
Duration: 1 round/level or until discharged
Saving Throw: None
Spell Resistance: Yes
Casting this spell creates a cloud of flaming meteors that orbit around you, consisting of 1 meteor per level. Once per round as a free action, you can make a ranged touch attack with a meteor. If successful, the meteor does 1d4 fire damage. As a standard action, you may release up to five missiles-the missiles may affect separate targets.
Focus: A hollow gold rod at least five inches in length, valued at 500+ gold pieces.
{edit: added "or until discharged" to the duration}