Don't how that would work practically speaking considering these are companies and organizations not affiliated with the university/program in the traditional sense. And now that we've opened the "college players deserve to be compensated for use of their image and likeness" floodgates, much like a traditional job, any sweeping efforts to cap/minimize the amount that can be paid out (particularly on an arbitrary, program-by-program basis) would likely be viewed as unfair restrictions on their right to earn - something that labor laws don't tend to look favorably on.
Taking it a step further, there's also an anti-competitive practices angle that could be argued, kind of akin to price fixing -- why should Star Player A be cut off from earning what companies are willing to pay him just because the team collectively is earning $X?
Then there's the whole, "who is going to impose these limitations" question. Certainly not the NCAA, think that goes without saying. Perhaps state legislatures, but any bills will be scrutinized and see legal challenges aplenty for things like above and much much more. The faucet has been turned on, it's a new industry with extreme market size potential, and there are now countless students (current, former and future) that will fight tooth and nail to prevent any restrictions, not to mention the agents, lawyers and uncles just as motivated to do the same to protect (and grow) their slice of the pie.