im quite certain that chaos never controlled time but if he could make the time loop, in theory i suppose he could travel in time or control it to some extent but i'd always thought of it as the four fiends sending garland 2000 years into the past and then the light warriors following him into the past and then him sending the fiends to the future.

i guess if he can do all that, chaos could use time travel but i doubt he could use it in battle or anything.