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Buzz is free (this is what I use).
http://www.buzzmachines.com
Psycle is free.
http://psycle.pastnotecut.org/
Skale Tracker is free.
http://www.metamacro.com/awezoom/skale/
Renoise is cheap ($45), and has a mostly-functional demo to play with.
http://www.renoise.com
Buzz and Renoise, I am sure, will be able to do whatever you want. Psycle might have some limitations in the MIDI department, not quite sure. Don't know much about Skale, so I can't comment on it.
There's more out there, I just can't remember them at the moment. I think Buzz is probably the most popular free electronic music composition software out there right now.
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-brash
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