Does PPA only have a set value per action?
Yes, strictly speaking, PPA only has a set value per action, but...
You can define different actions (each having it's own set value) and dynamically serve them up on your confirmation page (using programming that you create on your site).
I was hoping for some kind of basic ruleset - so that actions that end up in a purchase under $20 would get 10% of the revenue, between $20 - $60, they get $2.00, and $60+ they get 5% of revenue...
You can't do a percentage of an action, but if you dynamically served up a large range of fixed variants, you can essentially achieve what you asked about.
See Google's example here:
[adwords.google.com...]
Then extend their example to more iterations to cover the spectrum that interests you.