Add a way for configurable socket timeouts

[flippmoke]

Pull Request check-list

Please make sure to review and check all of these items:

• [x] Does npm test pass with this change (including linting)?
• [x] Is the new or changed code fully tested?
• [x] Is a documentation update included (if this change modifies existing APIs, or introduces new ones)?

NOTE: these things are not required to open a PR and can be done afterwards / while the PR is open.

Description of change

Added a way for connected sockets to timeout. This is important for situations where a connected server stops responding and the connection should close in a reasonable time.