Max 3 bosses? That'll be too easy. It's called Boss Party for a reason.

In my opinion, The amount of bosses in BP is alright tbh. It's all just about the RNG. If you're unlucky, you get 5-6 boss spawns. And now with the glitches fixed, it'll be even harder to win.

What I suggest is that, instead of making the boss spawn RNG, why not have it spawn at a fixed amount instead? E.g. Having a minimum number of 2 bosses on stage, up to 4 maximum. Killing minions when there's already 3 bosses on stage will not spawn anymore bosses, unless defeated.