IP Lists are supported in WAF, but using that would probably add a bunch of complexity that you don't want/need right now. They can't be used directly in front of an instance and need something like a load balancer or CloudFront distribution.
If you can't use IP ranges (subnets) to reduce the number of rules my recommendation would be to use the CLI to create/manage the rules you need. You can manually run the commands OR write a script to read the info from somewhere (like a text file).
The AWS CLI is available for most environments. PowerShell Tools for AWS is also decent if you prefer PowerShell though I have found a few limitations that the CLI does not have.
One thing to verify is if a security group can contain 240 rules (check the limits). You might need to spread this across a few security groups.