To add to the answers from Ecnerwal and J4nd3r53n.
From a microbiologist's perspective, growth of microorganisms under optimal conditions can most often be modeled by what is known as a S-Curve or logistic curve (see image below).

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To explain the curve. At the bottom left, you have a population of bacteria/yeasts that is low in number and a lot of resources that they can use (i.e. nutrients in the flour etc that you add), as they grow in number they progress along the curve, growing fastest in the steepest part of the curve. On the top right you have lots of bacteria/yeasts but they have used up most of the resources so don't/can't replicate well and are more or less static in number with newly replicated bacteria balancing out deaths in the population.
When you add "feed" to your starter, you are essentially diluting it and adding resources, this means that you are essentially changing where on the growth curve your stater is. Commonly bacteria and yeasts replicate (i.e. double in number) at a rate somewhere between 20 min and 1-2 hours at room temperature under ideal conditions. In the lab, we commonly start with a population at the top right and dilute it to somewhere between 1/100 and 1/1000 to shift it to the bottom left.
In your case you have essentially taken your starter and essentially done two halvings, so are left with about 1/4 of the original starter. This doesn't shift the population very far from the top right of the curve. The 1-2 hour incubation doesn't affect this much as you might get few doublings in population or two in this time, dependent on temperature. I would hazard a guess that you shift it more or less to the middle, steepest part, of the growth curve and should see rapid activity in your starter - lots of bubbles etc.
This rate of feeding is not too rapid; you can dilute much much more than you are doing with no problems at all. All you need to do with higher dilutions is wait to get the starter working again. For some frame of reference, in a pure bacterial culture in bacterial growth medium, I would expect to get about 1x109 (1 billion; 1,000,000,000) bacteria per millilitre (0.035 fl oz) at the top right of the growth curve, so there will be plenty of bacteria/yeasts in your starter even if you dilute it much more than you are currently doing. In fact, using less starter and therefore a longer rise time should give you more flavour in your sourdough.
As to feeding frequency, so long as you are leaving the starter out of the fridge, so as to give it time to grow well under room temperature between feedings, you should be fine. There will be some growth in the fridge, but it will be slow and you might favour (i.e select for) species that grow best under fridge temperatures, which is not ideal when you want rapid growth at room temperature.