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Off the top of my head, I can't think of anyone who would beat out Baba's record of 3 reigns combined to only equal 18 days. If you count Chris Jericho's reigns with the WCW (later renamed to simply World Title for the month between Survivor Series and Vengeance) than he held the title for 15 days and unified it, or basically merged it into the WWE Title...so if the title's history stops on that day (which most accounts claim) he held the belt for 2 reigns combined equalling 16 days. If you don't count those as WCW reigns, than DDP spent the least amount of combined total days with multiple reigns holding the belt 3 times over 29 days...
As for the WWE Championship, you were correct, Mick Foley had three reigns spanning 47 days. Which, to WWE's credit, if they gave the belt to someone multiple times, they usually at least let them run with it one time.
And if you care at all, ECW's least amount of time with multiple reigns goes to Jimmy Snuka with two reigns lasting 79 days. However it should be noted that there are 10 people with only one reign that lasted less and one person with a single reign that tied 79 days.
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