A friend of mine and I came up with this idea for a seven-part saga a couple years ago:
The Legend of Zelda
The story begins with Link returning to his time as a child at the end of OoT meeting Zelda off the bat, looking through the peephole at Ganondorf and discussing his mal intent. The first third of the movie is based in Hyrule, interacting with the locals (we are introduced to Malon, Talon, Ingo, Impa, and numerous others, including his obtaining of Epona) searching for Navi and showing flashbacks to his time as an adult in OoT. Link makes his way into the Lost Woods around the end of the first third where he encounters Skull Kid and Majora's Mask who steal Epona (and we'll see how wrought Link is about this), and subsequently stumbles into Termina. To really put emphasis on the three-day limit, the first sequence where he has to wait out the cycle to get the Ocarina back is going to be cut. He does however encounter the Happy Mask Salesman who teaches Link how to take the mask off and as he ventures around Clock Town, we see the familiar faces that we were introduced to earlier in the film, though it's apparent that they are not the same. So, he ventures to Woodfall Temple and defeats Odolwa, freeing the first giant. Of course more story elements are woven in and out, I'm just trying to get the gist out. So the latter third of the film focuses on Link venturing to Snowhead Temple and disapatching Goht, freeing the second giant. Goht marks the final climax of the film, and afterwards, we see Link traveling towards the ocean. The main themes of this film are Link searching for both Navi, Epona, and a way to get back to Zelda.
Majora's Mask
It begins with him traveling to Romani Ranch and meeting the Romani sisters, the younger of which looks identical to the Malon he met in the first film, the older of which has yet to be seen on film. Here, Link is reunited with Epona. Basically the Great Bay sequence with the Pirate's Fortress, Great Bay Temple, and freeing the third giant, then the Ikana Canyon sequence (including the graveyard and the bottom of the well which is going to be scary as ****), Stone Tower Temple, and freeing the fourth giant. Then concluding with the moon and the finale with Majora. Ends with Link traveling back to Hyrule. Essentially he found Epona and his way back to Zelda, but did not manage to find Navi, so with 2/3 of his quest fulfilled, we complete the second of three films.
Ocarina of Time
The film begins with Link having a nightmare about his ventures through the Great Deku Tree, Dodongo's Cavern, and Jabu Jabu's Belly. Just as OoT began in the game, Link is shivering and trembling in his sleep, and then he is awoken by Navi. Because the search for Navi was a strong emphasis in the first two films, those who don't know that OoT is actually a prequel are going to assume that it's a sequel and that he found her. When she wakes him, she tells him that he needs to go to the Temple of Time to deliver the stones. As they are leaving, he meets Saria who tells him to come back for her. We are reintroduced to the Master Sword in the pedestal of time, just as the series began. Link draws it and awakens as an adult, so you understand that perhaps he was an adult before the first film. Navi reminds Link that he needs to return to Saria, so he travels to and through the labyrinthine Sacred Forest Meadow only to be ambushed by Sheik. The three travel into the looming Forest Temple and face Phantom Ganon, upon whose defeat reveals an imprisoned Saria who awakens as a sage. It is here that Sheik gives the monologue which she gave in the Temple of Time in the game about the sages.
Because there is a passageway from the Lost Woods to Goron City, Link, Navi, and Sheik take this route. Desolate and echoing, they seek out any remaining Gorons only to find Link, the son of Darunia who tells them of the peril that Ganondorf brought on his people, offers up the Goron Tunic, and continues to roll around. The three travel through Darunia's chamber into Death Mountain Crater and deeper into the Fire Temple. Upon discovering the hallowed Megaton Hammer, they meet up with Darunia at the temple's end, and the four fight the mighty Volvagia, though Darunia parts with them as he too awakens as the destined sage as Sheik explained. The firey cloud above Death Mountain dissipates, lifting the shadow over Kakariko. Link, Navi, and Sheik make their way down Death Mountain trail to Kakariko Village where they run into a drunken Talon, rambling about Ingo taking over Lon Lon Ranch and trying to forcibly wed his daughter Malon. Sheik decides to stay in Kakariko, so Link and Navi travel to Lon Lon to settle the ordeal. Ingo bets that if Link can beat him in a race, he'll give him Epona, otherwise he has to surrender himself to hard labor. So Link wins and hops the fence, all the while Navi reminding him of the Zoras. So they ride to Zora's Domain, only to find it snowing along the river and the once paradisiacal basin has now been almost completely frozen....
I may finish this later, but I don't particularly care about writing out the rest because this is not how I would make a Zelda film now. Simply just sharing an idea I had two years ago.