It appears I am limited to 8 classes per policy-map. Here is the error message when using the Cisco Network Assistant:
The policy "policy-name" contains more than 8 policers, which means it cannot be attached to interfaces. Are you sure you wish to apply this configuration?
I currently use aggregate policers to limit the bandwidth. Is there a way to increase the allowed amount of classes, or is there a better way to control max allowed bandwidth?