Sounds to me you would be better off with a DVCS (Distributed Version Control System) like Git, rather than TFS which has a centralised version control system.
TFS now integrated with Git, here is a good blog post which provides you with most of the details you would need - http://blogs.msdn.com/b/visualstudioalm/archive/2013/01/30/getting-started-with-git-in-visual-studio-and-team-foundation-service.aspx
Add an enterprise level Git Repository Management tool like Atlassian Stash and life will be sweet - http://www.atlassian.com/software/stash/overview