In this paper we study a family of limsup sets that are defined using iterated function systems. Our main result is an analogue of Khintchines theorem for these sets. We then apply this result to the topic of intrinsic Diophantine Approximation on self-similar sets. In particular, we define a new height function for an element of $mathbb{Q}^d$ contained in a self-similar set in terms of its eventually periodic representations. For limsup sets defined with respect to this height function, we obtain a detailed description of their metric properties. The results of this paper hold in arbitrary dimensions and without any separation conditions on the underlying iterated function system.