There's not any limit in amount to send messages, after the change from C2DM to GCM. However, there actually is a limit in the number of pending messages to deliver if the message can't be delivered in the moment you send it, up to 100.
As per the GCM documentation:
Note: There is a limit on how many messages can be stored without collapsing. That limit is currently 100. If the limit is reached, all stored messages are discarded. Then when the device is back online, it receives a special message indicating that the limit was reached. The application can then handle the situation properly, typically by requesting a full sync.