For the Overworld, you can create an event (ideally in an unreachable corner), then choose Parallel Processing from that event's Triggers. PP will make the contents of that event loop over and loop without interrupting your character's movement. Do not mistake this for Autorun, which will pause player movement like a regular event would.
For the event itself, there's no condition to automatically detect your player's HP, so instead, the page should have a Conditional Branch. If there's no option to determine the player's HP there, you would have to use the Script line at the last page of Conditional Branch and write $game_player.actor.hp <= 1 (The leader's HP is less than or equal to 1). More math would be needed if you're planning to determine the average or highest amount of the party's HP
Keep in mind that Parallel Processing and Autorun are designed to repeat themselves. Without knowing what you want that event to do, there are several ways to disable that PP event like Erase Event (disable until you reenter the map), turning on a switch to activate a blank page, teleporting to another map, or healing up.