A communication system includes devices configured to communicate with each other through a temporal sequence of frames. Each of these frames includes multiple sub-channels. Note that a given device in the devices is configured to select sub-channels to reserve based on a nearest-neighbor spacing between the sub-channels to be reserved and/or a switching latency between data in-flow to the given device and data out-flow from the given device. Furthermore, the given device is configured to dynamically reserve the selected sub-channels on a frame-by-frame basis for up to N frames.