I know when I have taken part in team races we have doubled up laps but it depends on your fittness.  Make a plan but don't be too worried if you have to change tactics.  We found we could keep going at full steam for a couple of laps and cut down on change over times.

Pack plenty of food, water and energy gels.  Ah and ensure your bike is in perfect working order with kit you know and trust.  But most of all have fun.