Three Hour Peer Revision--Help?

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OK, so the grad students will have rough drafts of their final papers this evening. We'll work together to come with a rubric for grading them and then they'll do peer revision. But the class is three hours long so I'm trying to think of some more (useful) activities I can do around peer revision to help them make the final push on their projects. If you had three hours for peer revision, what would you do? Any suggestions?
About the Author
Barclay Barrios is an Associate Professor of English and Director of Writing Programs at Florida Atlantic University, where he teaches freshman composition and graduate courses in composition methodology and theory, rhetorics of the world wide web, and composing digital identities. He was Director of Instructional Technology at Rutgers University and currently serves on the board of Pedagogy. Barrios is a frequent presenter at professional conferences, and the author of Emerging.