How is the schedule for reviewing the bill determined? (Who makes the decision to put a meeting on the Senate Committee's agenda, and when/where is the decision made?)
The decision to send a bill to committee is made in the Senate by the Senators. The Canadian Senate has a set of rules, called the Rules of the Senate, which lay out parliamentary procedure (they are in many ways similar to Robert's Rules of Order). Specifically, rule 12-8(1) provides that "any bill, message, petition, inquiry, paper or other matter may be referred to any committee as the Senate may order." In order for a Senator to get that bill to committee, he or she need simply follow the rules (obtain the floor, make a motion, and have that motion carried by a majority of Senators present). In practice, virtually every non-appropriation bill goes to committee. The committees exist to be small and consist of relative experts on the subject at hand, which help speed up the process of getting them through the Senate.
Perhaps it would be clearer to simply read a Senate debate in which a bill is referred to committee:
The Hon. the Speaker pro tempore: Honourable senators, when shall this bill be read the third time?
Hon. Ratna Omidvar: Honourable senators, I move that the bill be referred to the Standing Senate Committee on Social Affairs, Science and Technology.
The Hon. the Speaker pro tempore: Is it your pleasure, honourable senators, to adopt the motion?
(On motion of Senator Omidvar, bill referred to the Standing Senate Committee on Social Affairs, Science and Technology, on division.)
Once the bill is referred to a committee, it is up to the chair of that committee to determine its place on the agenda.
Is there a legal limit for how long a Senate Committee can consider a bill, or can they essentially "sit" on a bill forever?
A committee must report on a bill, but there is no rule as to when. Although they could technically sit on a bill, doing so is unlikely for a few reasons. First, there is no filibuster procedure that allows one member to hijack the discussion. The chair can shut down debate as needed. Second, the makeup of the committee will likely mirror the composition of the Senate. This means that if a majority of the committee wants to see the bill pass, the majority of the Senate likely will, as well. There simply isn't a procedure that exists to permit the minority to hold off an issue indefinitely (and even if they manage to in committee, the Senate can simply refer the bill to a different committee, if needed).