A drill bit may include a bit body and at least two cones assemblies including at least two drive cylinders having at least two cones. The at least two cone assemblies are mounted on the bit body. The drill bit may also include an indexing mechanism coupled to the bit body and configured to rotate and lock at least one drive cylinder. A method of operating the drill bit may include providing fluid to the drill bit, rotating the drill string to drill formation, moving the indexing mechanism an axial distance within a central chamber of the drill bit, rotating the at least two indexable structures as the indexing mechanism moves, and locking the at least two indexable structures.