[venuestudio]

This is the perfect place to use a compressor with a side chained eq.

Start by sending the signal through a spectrum analyzer to find the frequencies that are hot. You can do this by sweeping the frequency spectrum with an eq until you find it but the S/A is faster and more accurate if you have one. Once you find the frequency, set the side chain eq to that frequency and bump it up a few db to start. Now the compressor will compress that frequency first and leave the rest of the frequencies alone more or less. You can scoop the other frequencies too if you want less compression on them. Side chaining is a beautiful thing.

Oh, yes you can eq and limit/compress. Remember that limiting is compression with higher ratios (above 10:1).