With references to the following question speeding up xcode builds, the following command still works in Xcode 4:
defaults write com.apple.Xcode PBXNumberOfParallelBuildSubtasks 4
However it only limits the number of 'cplus' processes that Xcode initiates while building. In Xcode 4 now I also get a ton (more than the number of cores I have) of the 'clang' processes, which eat up a lot of memory and freeze my system. So is there any way to limit the number of 'clang' processes while building?