I'm going to go out on a limb here and venture the possibility that you're probably (not necessarily) doing something wrong.
Raymond Chen said it best but, if you're worried about the maximum number of mutexes, you're probably protecting your resources at too fine a granularity.
Certainly there will be a maximum number even if it's dictated by available memory rather than a constant. However, I can't see any valid situation in which you would need so many mutexes that you would hit a limit.
I'm not saying it's not possible since I have no idea what the architecture of your application is. But I would be very surprised if there wasn't a better way to do it.
Perhaps if you step back and tell us the "what I want" rather than the "how I did it", we could offer better advice.