Scott,
There are a few ways you could lengthen your overall backup chain and still rotate destination drives. It sounds like you are looking for option 3, but you might consider any one of the following:
Option 1: Use larger disks that will hold more backup sets, so that you can increase the number of retained sets in the retention policy.
Option 2: Rotate more disks (i.e. 3 or 4), so that you can increase the retained sets in your retention policy
Option 3: Use the 'Second and subsequent full backups are differentials' option (in the Advanced options for your backup job). With this option, all full backups beyond the first will be created as "Differentials", which are created by comparing everything on the drive to the original full backup. They take just as long as a full backup to create, but result in a small, incremental-sized file from which the incremental backup chain can be perpetuated. To do this, first allow the job to create the initial full backup, then copy that backup to both drives (or all the drives) you intend to rotate. Swap the drives just before each full backup is scheduled to trigger. Each time it will use the original base image to create a differential, and subsequent incremental backups will be based on changes from that point on. The retention policy will work on the differentials and incrementals created using this process, but will not touch the original full backup. By avoiding full backups (other than the initial full), you save considerable disk space and can have a much longer backup chain.
NOTE about option 3: The size of each differential can increase over time as the system is used, or if major changes to the disk are made, such as if the drive is defragmented. They still won't be near as big as a full backup, but it can negate a little of the space-saving benefit of this process. If this becomes a problem, you can always wipe the destination drives and start over with a new full backup to correct the problem.
Kevin