According to my math, 72 seems high but that would be right.
There is not a limit put on the number of matches a wrestler can have. As Travius said, the limitation is based on a limit of 30 competition points. Those points follow the formula he provided.
If a school competed in seven 2-day dual tournaments and have 28 competition points. The highest number of matches one wrestler would have in one tournament is 10.
The school could have one double dual for 2 more points and 2 more matches.
I guess that adds up to 72!
Traditionally in Kansas I have seen numbers approaching 50 but can't recall a time I have seen 70!