Are you asking, “How much data can I have in memory and any one time?”
If so, it isn’t entirely straightforward. There are many devices (iOS and Android) out there, with typical RAM sizes of between 128MB and 2GB. However, these sizes don’t tell you how much space your app can use.
For example, you may have an iPhone 3G which has 128 MB of RAM. However, when your app starts to use near 20MB at a time, you can get yourself into trouble and may crash.
That said, the best way to find out is to to code up a basic implementation of your idea (or the core part that you’re worried about) and try it on some devices that represent your target market.
So, what about Corona limits? AFAIK, it doesn’t really have any. You’ll always be limited by the amount of RAM, VRAM, and the persistent storage capacity of your device before you are limited by Corona.
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