How to handle large amount of text with gpt-3.5-turbo and what happens at token limit?

So Im wondering what the best way is to handle large amount og data with gpt-3.5-turbo? If i.e. store respons in an array would the best solution be to delete early responses to free up tokenspace for new responses?

And what happens when token limit is exceeded? If i send a message with an array that exceeds the token limit, will i get charged for the array send and not get a response, og will it just cancel the fetch?