I wouldn't be surprised that at least one of this library or the Erlang VM itself develop an official way to easily use a NIF to run a longer-running process safely. There hasn't been a need up to this point because there hasn't been a such thing as a long-running NIF.
At the moment, if you're looking at something that may take several seconds you're probably still better off coordinating something over a port to an external process or something. Or working with this project to make it feasible to run a long-running native process.
Trying to write a NIF that could somehow yield back and then be "continued" later would be a royal pain. Cooperative scheduling was enough of a pain when we were in the hundreds of processes mostly doing nothing on OSes; trying to use it on an Erlang server is probably just infeasible.