I would limit the memory available to the script, with ulimit(1), setrlimit(2), or the program softlimit from the daemontools package.

According to a quick SuperSearch and Google search, you may be able to trap the error with a $SIG{__DIE__} handler if you set the $^M variable:

In reply to Re: Remaining Memory on a system by sgifford
in thread Remaining Memory on a system by smellysocks

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