Just create more calendar folders and grant permissions.

To access a shared folder that isn't one of the folders listed on the File |
Open | Other User's Folder dialog, the mailbox owner needs to grant Reviewer
permission to the root of the mailbox, as well as appropriate permission on
the folder.

The user who needs access then goes into Tools | E-mail Accounts or Tools |
Services (depending on the Outlook version), brings up the properties for
the Exchange Server service, and on the Advanced tab, adds the mailbox.

For more information on folder permissions, with how-to screen shots, see
http://www.howto-outlook.com/howto/permissions.htm and
http://office.microsoft.com/assistance/preview.aspx?AssetID=HA011134811033

You might also consider using public folders instead of mailbox folders.

Not without SharePoint or Exchange.