What you can do is a 2 team league with a final though, 3 round robin matches in the tournament and a final to equal 7.
One thing that would be nice is if you could just quickly set a rule for rest days and the like to make the competition sort itself out on the calendar a bit nicer by default - at the moment just chucking in a 5 test series gives you them all back to back. Even if those were just fixed defaults of a 4 day gap between tests, or only 3 ODIs in a week, etc. it would make the initial setup a bit easier.
Failing that, moving one match should push the ones that follow forward, it seems to just wall off any spot with a match so you basically need to work backwards. Unless that's just clunky mouse control (I haven't tried with a controller yet).
Any sharing of tournaments coming? It would be great if someone could just bundle up the required teams, a tour schedule and just have one press to get everything needed to play it.