Hi, this plugin does have 3 features that will do a great job for you. Login Lockdown, BlackList Manager and Brute Force. Login Lockdown does lock out users who try x amount of times to log in unsuccessfully, which is something similar to what you requested above. Then you have Blacklist Manager which can block permanently IP address. And Brute Force which can hide your login URL from the public.
There are also other features in the plugin that also do a great job in protecting your website. The list is too long for me to share here.
Why don’t you test the plugin and specially set up the above 3 mentioned features and let us know if they help you or not.
Regards