When you make the event, open More, turn on Repeats and pick a rule — every Saturday, every other week, monthly on the fourth Saturday, or a pattern of your own.
Each date becomes its own event, to the same people. The first sends right away, the way any event does. Later ones send on their own schedule, ahead of their own date — you choose how much notice, from the day of to two weeks before — so nobody gets asked about something nine months out.
Replies stay with their date. Someone who can't make this Saturday but can make the next one answers each one on its own.
It ends after a set number of times or on a date you pick. Never keeps it going for the year ahead.
There's no single button for the whole series. To stop one date, cancel that event the way you'd cancel any event — the dates you haven't cancelled keep going.
Under 30 guests a series is free, the same as any event. Over 30, it needs the year: see Paying for a year.