So the code is only good from 1-3pm??
Yes. Only 1 per account, but as long as you enter it in during that time frame, you get a key. They've had other codes with a set number that can be redeemed, which is first come, first serve.
I think he's going to throw out a Season Pass code that will be good for 30 minutes. I'm sure the internet will die at that point.