Batch Files
Go to your multitrack view, and put a cue at each point (even at the very start and at the very end of the whole track) where you want a split. Continue to add other volume and pan envelopes as you normally would.
Then mix down. The resulting .wav file will be shown in the edit mode, but all your cues will still be there. (I asked this question a few weeks ago, and the answer worked!)
Call up your cue list. You'll see a bunch of places where your cue markers are. But this isn't good enough yet. Highlight the first cue, then move your cursor to the bottom (last) cue. On this last cue you want to shift + click so that all the cues are highlighted.
Then you want to go to the bottom of the cue view. There's a button called "merge" there. Push this button, and all your cues will be turned into cue ranges. Then, name each range with whatever name you want.
Now you're ready for the last step. With all your named cues still highlighted (or you can even leave some of them out if you don't want all of 'em), hit the button at the bottom of the cue view that says "batch." This will separate all your ranges into different wave files.
You can then edit each wave file independently to your hearts content, adding moments of silence at the start and end, adding reverb, etc.
When the prompt comes up for the batch mode, make sure to click on the option that takes the names of your cues and uses those names for the new files.