You're talking about a perpetual grow. thats how I grow. I used to keep mother plants but have stopped for the last month. Mothers need some space, I just dont have it. Take cuttings from plants before you flower them.
Heres what I do.
I have 2 spaces, 1 for vegging and another for flowering.
I grow my plants until they are large enough to take cuttings from. I am running 4 strains right now. I take a few cuttings of each strain, I stagger when I take cuttings about 1 week apart. As those clones are rooting I let the "mother" plants recover, I give them about 1.5-2 weeks before I put them in the flowering cabinet. This way I have plants in different stages of vegetative growth at all times.
I then have a total of about 16 clones vegging. I use the oldest clone of each strain and reserve that to take cuttings from. Veg all the plants until they are 12-16 inches tall then they go into flower.
It takes a little while to get your schedule down but once you get everything going its great. Harvest at intervals that you want to. I used to go 2 week intervals but its too much for me. I now go 1 month.