It would definitely unbalance the game to limit builds to the IPC value of the territory. The Allies have a hard enough time as it is preventing Japan from winning the game (especially to a 22 VP target). If you handicap them further by not allowing the US to build more than 2 units per turn in Hawaii, the game is lost for the Allies.
Chinese and Indian Infantry would just stack up while you wasted everyone of your fighters…then the U.S. would just come in from your rear and wipe you up.
I just realized I was quite inexperienced when I first replied here. I’ve since switched to a somewhat more boring, yet rather intense, strategy for taking India. I nab as much in the northern dutch east indies that is of value, while cutting convoy routes and killing as much enemy navy as possible. I then move as many troops into southeast asia as possible (taking the offensive forces from Manchuria and Shantung as well) and continuously build infantry with perhaps some artillery and fighters; these all, of course, will be sent into French indo-china at the earliest possible convience. It is quite important to ignore China (possibly advancing in the north if the oppertunity presents itself) and to consolidate most of the navy in the central Pacific (perhaps some destroyers with the transports to protect against wayward enemy ships). we’ll see how unreliable this will be after being exposed to my play group for a few months.