Working with multiple versions

Hello.

In our company we have a version structure such as this (version numbers
were modified for simplification purposes):

1.1.3 (last release)
1.1.4 (current release)
1.1.4i (current release with experimental features)
1.2.0 (next version)

All of them undergo changes as necessary. However, a change must always be
reflected to the higher versions, i.e. if something is committed to 1.1.3,
it must be merged to 1.1.4, 1.1.4i and 1.2.0. But changes on 1.1.4i should
only be merged to 1.2.0.

This works, however, all merges must be done manually. I was wondering if
it would be possible to create a structure like this:

1.1.3
   1.1.4
     1.1.4i
       1.2.0

In this way, the children would receive all modifications from their
parent, and all changes made on them would reflect on their children,
without any kind of user intervention.

Is ths possible?

Thank you.

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