From what i get, you'll LOOK like a loser if you take the MCAT more than 3 times in the eyes of the med schools. Unless you took it 3 times when you graduated college, then took it again years later. You can apply as many times as you want though. In regards to the MCAT, scores no longer work after 3 years anyways, so........don't really worry about taking the exam 3 or more times anyways.
I've talked to an MD, he applied 5 times with scores of something along the lines of GPA 3.4, MCAT of like 28-30. Something like that. Personally i think the med schools like to see some sort of persistance. I believe someone in this forum stated that if you're gonna give up after being denied the first time, why did you apply in the first place? Besides, med schools are usually happy to get your money, like any other school in this world. Hehe.