Revanth,

The maximum size is 2 GB. You can exceed this with a few modifications. Please see this link where this subject was recently discussed:

http://appdeveloper.intel.com/en-us/node/1134

I terms of errors during MSI submission, most people end up having internet connectivity issues. Please try another computer to (with another internet connection) to verify this.

Edit:

Although the above explanation is technically correct, it does not apply to MSI's uploaded in the dashboard. For this to work, it would need to accept multiple files.

I would have to question a > 2GB installer for most netbook categories as well. Mine average between 15 and 50 MB. Best of luck to everyone.