For precise jitter statistics, you should use a dedicated protocol, such as Cisco's IP SLA, also see NIL's wiki for usage information. IOS has a UDP responder that is useful as a latency probe.
I would advise against solutions that rely on
ping to measure jitter, since ping depends on the end host's OS scheduler, which is itself a source of jitter.
Cisco and other targetted solutions take pains to ensure that your stats are as accurate as the platform will allow.
Traceroute / ICMP logging
Use MTR, which has a mode to iteratively log the results of a traceroute to a file. MTR uses ICMP so you can knock out two items at once with it. The linux one-liner CLI to run
mtr --report -c 5 22.214.171.124 until 11:30 localtime today would be
python -c $'import subprocess as sub;from datetime import datetime as dt;dest='126.96.36.199';finish=dt(2012,6,27,11,30);\nwhile (dt.now()<finish): sub.call(["mtr --report -c 5 %s" % dest])' > mtr_logfile.txt
If you prefer a standalone script...
import subprocess as sub
from datetime import datetime as dt
sub.call(["mtr --report -c 5 %s" % dest])