To add a little note, the field is limited in code:
the file BizForm_Edit_NotificationEmail.aspx
uses the EmailInput Control you can find at ~/CMSFormControls/Inputs/EmailInput.ascx
This uses logic to SetInputMaximumLength() based on if multiple addresses are allowed:
txtEmailInput.MaxLength = AllowMultipleAddresses
? ValidationHelper.MULTIPLE_EMAILS_LENGTH
: ValidationHelper.SINGLE_EMAIL_LENGTH;
The values are constants directly set in the ValidationHelper class you can't edit. I don't have a version 8 at hand, but in later versions those are set based on RFC guidelines:
easiest around this would be to allow multiple Emails as suggested above. You could add your own logic in the EmailInput control file, although I'd recommend cloning it and referencing your own email input specifically in the BizForm_Edit_NotificationEmail.aspx-file. This however is a generic control probably used in a lot of places. So be careful on touching that and keep in mind this could cause problems whenever you're upgrading or applying hotfixes at a later time.