test.sh

while read event target lost ; do
    case $event in
        NEW )
            ip2int $target intTarget
            ((count[intTarget]++))
        ...

    esac
done < <(tail -f /path/logfile | sed -une '
  s/^.*New incom.*from ip \([0-9.]\+\) .*$/NEW \1/p;
  s/^.*Auth.*ip \([0-9.]\+\) failed./FAIL \1/p;
  ...
')

How about something like

tail -f … \
| while read event target lost
    switch $event
      case NEW
        do_something
  end