It is now possible to limit the number of participants to an event directly at the event level.
- Create/Edit an event by following this tutorial.
- Go to "7. Registration Options" and click on "Attendance Limit".
From there, you will be able to set the maximum number of participants by completing the "Attendance limit" field.
You can also limit the number of tickets each student will be able to buy by completing the "Tickets limit" field.