Hi,
i was looking for a utility to limit fps in Arma2, and i got one that worked perfect (i tried it but finally i didnt use it any more, because i didnt like the performance i get with it).
The name was "arma2_fpslimiter", very easy to use. You put a d3d9.dll file in the Arma2.exe directory and then add -fpslimit=30 parameter to the shortcut to use.
I think this app is made with the FPSlimiter, but i cant find in google now the "arma2_fpslimiter.rar" file i found months ago.