I think 2-3 days for the solo entries sounds about right, although i think 3 would be better. It depends on the difficulty of the events as 2 days could easily disappear thanks to work or hobbies. Another way to look at it is the 3 + 4 gets you the full week with scoring going over into the next event.
For teams that aren’t local would they be able to start collaborating before the 2-3 days are up? Is that collaberation built into the system you have in mind or would they be providing their own skype/hangout/email/whatever?