limited error_logger dump (vm crashes because of generating dump)

[Max Lapshin]

For several times I meet bad situation, when BEAM crashes due to
error_logger. It begins to dump laaarge state, take much more memory
than state was due to list nature (once, I've seen error_logger eating
15GB of memory) and then crashes.

I haven't yet looked at otp code, but I'm interested if it is possible
to implement limited dump of state. Perhaps, I just need to add byte
limit to ~p output in io_lib:format?
If this would be the easiest solution, I can make a patch.
I don't see any practical reason to dump more than 2-3 megabytes of
state and messages and in any case it is a very bad situation, when
error_logger halts and crashes VM.