You just need to store in database the end time of countdown with something like this
INSERT INTO user_offers SET countdown_end = DATE_ADD(NOW(),INTERVAL 5 MINUTE), user = ...
This will insert row with current time + 5 minutes. Assuming that you have logged in user, you will insert item id and user id, otherwise you need to develop your own way to recognize user (cookie for example), so that refreshing page would not refresh countdown.
Then you will need some jQuery (I like jQuery, but you can use whatever you want) magic for countdown, like this plugin http://keith-wood.name/countdown.html
When user clicks on ORDER NOW button (or smthing like that) you just check user_offers table like this
SELECT countdown_end FROM user_offers WHERE countdown_end > NOW() AND user = ...
If it returns something than you know, that he clicked in limit :)
enddate (datetime actually) and check if the current time is before this `end date.