So according to this post, you get 40 votes a day. This seems like a good limit, but I find myself hitting the limit everyday. There are so many questions on Arqade, and so little votes to cast. I think it would be a good idea to change the voting limit based on your reputation. For example, 15 reputation lets you vote the minimum, 50 lets you vote more than that, and so on. I'd like to know if anyone else has the same problem or maybe I am just voting too much. Please feel free to also leave ideas.
"Voting too much" is a weird concept. Your votes are yours to use however you see fit. For me, personally, I have never hit the vote limit (or even come close). I don't vote very much, and have high standards when I do usually.
Arqade, on the whole, is a very vote happy community as opposed to many other SE sites. In my experience, rep is gained quicker here than most other places, and questions and answers have higher scores. Especially if you compare to say StackOverflow. It's probably why no one has ever earned the Unsung Hero badge on this site.
The vote limit exists for a few reasons. Not the least of which is to avoid people gaming the system, but there are also other systems in place to prevent that and more reasons than that to keep it there. Scaling it up as rep increases would bypass the reasons this limit exists in the first place.
If you are hitting the limit every day, that's perfectly fine. Some people are just vote happy. But, I would encourage you to make sure you are using your votes wisely (however you define that). Voting is the way to keep good content on the top, and sink bad content down. But continually voting in the extreme reduces the effectiveness of the point system by dichotomizing the results into similar extremes. It weeds out the middle and puts everything into "good" or "bad" buckets when some things are really just "ok", some are "great", and some are "terrible".
This, of course, is all in the worst case scenario. Your voting patterns are unlikely to tilt the scale towards this (another reason for a voting limit) it's just something to think about.
Bottom line: Your votes are yours to do with as you please. If you're hitting the limit regularly, you might want to double check your voting, but it overall isn't a big deal. As for raising the limit, I highly doubt that is going to happen for a lot of reasons.