I created a multi-page article using FF matrix that had a table of contents and next/prev links. The matrix had a title field and a WYMeditor field for the content.
url structure was site.com/articles/<article-name>/<section-title>/ where articles was the template in the default template group, <article-name> was the url-title of the entry, and <section-title> was the title field from the FF matrix with all non-alphanumerics converted to hyphens, groups of hyphens converted to a single hyphen, leading and trailing hyphens stripped, and converted to lower case.
for the nav and next/prev links I used a good bit of PHP. every call to any subsection of an article required processing every entry in the matrix. you keep track of the information from the previous entry so that when you find the one you’re looking for you can save the info into a previous link. you also need to set a boolean when you find the entry you want so that you can capture the next entry’s information as a next link. after you’ve got your matching info and your next/previous links you can exit fast from subsequent iterations through the matrix.
I have no idea if this would scale well to hundreds or thousands of items, but the maximum I was going to have was on the order of 5-10 so it works for my purposes.