You can try using the
ulimit shell builtin to limit the resources, though you then have to launch Dropbox from the shell that you ran
ulimit in, instead of from the Finder or something.
$ help ulimit
ulimit: ulimit [-SHacdefilmnpqrstuvx] [limit]
Modify shell resource limits.
Provides control over the resources available to the shell and processes
it creates, on systems that allow such control.
-S use the `soft' resource limit
-H use the `hard' resource limit
-a all current limits are reported
-b the socket buffer size
-c the maximum size of core files created
-d the maximum size of a process's data segment
-e the maximum scheduling priority (`nice')
-f the maximum size of files written by the shell and its children
-i the maximum number of pending signals
-l the maximum size a process may lock into memory
-m the maximum resident set size
-n the maximum number of open file descriptors
-p the pipe buffer size
-q the maximum number of bytes in POSIX message queues
-r the maximum real-time scheduling priority
-s the maximum stack size
-t the maximum amount of cpu time in seconds
-u the maximum number of user processes
-v the size of virtual memory
-x the maximum number of file locks
If LIMIT is given, it is the new value of the specified resource; the
special LIMIT values `soft', `hard', and `unlimited' stand for the
current soft limit, the current hard limit, and no limit, respectively.
Otherwise, the current value of the specified resource is printed. If
no option is given, then -f is assumed.
Values are in 1024-byte increments, except for -t, which is in seconds,
-p, which is in increments of 512 bytes, and -u, which is an unscaled
number of processes.
Returns success unless an invalid option is supplied or an error occurs.
You probably want
ulimit -m or