It is very odd to see just 'Times' on its own as a prompt. With no other context, I would have answered amserau! Lluosi means 'multiplying/to multiply', so the kind of 'times' in times tables, say.
Dw i wedi dweud hynny wrthoch chi bedair gwaith o'r blaen! would be 'I've told you that four times already!', so in that context, yes, gwaith means 'time(s)'.
Quite a few of these single word prompts need more context to give them a clear meaning.