I think it would depend on the individual, and just as important how long the mic cables are. I remember reading an interview, with I think Tommy Lee, and he said that one night the tech lost count of how many times he spun one direction, went too far, and all the mic cables snapped. Show's over at that point. In his example he was spinning upside-down, and not horizontally, but I'd think you'd still be limited by the mic cords.
One way to find out would be to go to a park and hop on a merry-go-round, and just try to play something on the bars.
What's your plans for this?