Is there some efficient way to churn out pairs of integers $n,m$ such that
- $\gcd(n,m)=1$;
- $n,m$ both have fairly large numbers of fairly small prime factors; and
- Euclid's algorithm applied to $n,m$ has a moderately large number of steps; e.g. a number is replaced by its remainder at least four or five or six times?

How about the following heuristic:
Choose $n = {p_1}^{e_1}\cdots{p_k}^{e_k}$ for some small primes $p_i$ and arbitrary exponents.
Let $a = {p_{k+1}}^{e_k+1}\cdots{p_l}^{e_l}$ using different small primes. Choose arbitrary exponents while ensuring that $a \ll n$.
Let $p^\star$ be the smallest prime greater than $\dfrac{\phi n}{a}$ where $\phi = \dfrac{1+\sqrt5}{2}$.
Let $m = ap^\star$.
Then $m$ and $n$ both have many small prime factors ($n$ has exactly one large prime factor, $p^\star$), and $m \approx a \dfrac{\phi n}{a} = \phi n$. Because $m$ and $n$ have a ratio of approximately $\phi$, the Euclidean algorithm will take many steps to run.
Example:
Running Euclid on $(n,m)$ takes 24 steps. Here's a list of the intermediate values along with their ratios. Note that the ratio stays near $\phi$ for the first five or six steps: