1. The maximum swag attainable by any person(s) at a given time. Similar to the salary cap placed on sports teams by many professional leagues. If swag cap is surpassed, the surpassing swag star will be swagger jacked by his nearest bro.
2. A sporting, flat billed cap only to be worn by complete douches or bros who have achieved maximum swaggertude.
Bro 1: "Bro, you were swag steppin' so hard today, you must be near the swag cap."
Bro 2: "Yeah bro, I'm definitely nearing maximum swaggertude."
Guy 1: "Aww man, look at that douche over there, trying to rock a swag cap way too hard."
Guy 2: "Nah bro, that's Greg. He's got total swag."