Lanefan
Victoria Rules
Make all magical equipment more fragile than the normal rules indicate; explained if needed by "magic by nature is inherently unstable and this instability carries over to the things it enchants".
Every time someone fails a save vs. an area-effect damage spell or situation, force all their equipment to save as well. Use the table in the 1e DMG for item type vs. damage effect, and don't stop when one item fails. And if you really want to be nasty like me, have it that magic items might go *boom* or cause other random effects when their magic is suddenly released in ways it shouldn't be (like being broken, or burnt to a crisp), potentially triggering another round of saves~...
That way, within reason it doesn't matter how much stuff you give out as you know it'll most likely all eventually break anyway; and in the meantime they get to use some cool gype.
An example: just this evening I re-did the party NPC's character sheet before the session and noted he'd picked up a fair bit of useful magic. By sheer bad luck, by session's end he'd lost 2/3 of it: half the losses coming via the same event that killed him and the other half going to pay for his resurrection.
Lan-"easy come, easy go"-efan
~ - caution: cascading meltdowns like these, though rare, are very messy things; and can take hours (!) to resolve in a magic-rich party.
Every time someone fails a save vs. an area-effect damage spell or situation, force all their equipment to save as well. Use the table in the 1e DMG for item type vs. damage effect, and don't stop when one item fails. And if you really want to be nasty like me, have it that magic items might go *boom* or cause other random effects when their magic is suddenly released in ways it shouldn't be (like being broken, or burnt to a crisp), potentially triggering another round of saves~...
That way, within reason it doesn't matter how much stuff you give out as you know it'll most likely all eventually break anyway; and in the meantime they get to use some cool gype.

Lan-"easy come, easy go"-efan
~ - caution: cascading meltdowns like these, though rare, are very messy things; and can take hours (!) to resolve in a magic-rich party.