Yes, you can. IP limitation prevents spam users and helps you limit form submissions from the same IP. When the option is not used, users can submit your form for an unlimited number of times from the same IP address. To prevent this from happening, go to Form Settings → Security → Submission Limit, check Limit the number of form submissions from the same IP to and add in the box the number of times the form can be submitted from the same IP per hour, day, week, month, year or eternity, in the dropdown list.
If you choose to limit form submissions from the same IP per day, it means that after twenty-four hours the limitation will be reset and the user can send new submissions, but only as much as you have permitted in your Form Settings.
If you choose to limit form submissions from the same IP per eternity, each user will be blocked from sending new submissions, when the limit has been reached.
Case scenario: You’re an Internet provider and you want to acquire some information from your clients through an online form, during a six month period. Your database is built upon gathering IP addresses, therefore you require each submission to be unique by its IP address. In this case you will limit the number of submissions from the same IP to 1 per eternity. This way you will receive at the end the correct number of clients your company is serving.