iRule: Redirect when defined connection limit is reached to node

We are trying to setup an iRule to redirect new connections to a different web server once a defined connection limit for that source IP is reached. For example, if there are 2 connections form source 1.2.3.4 and they attempt to create a 3rd connection, I would want to redirect that request to another server with a page explaining that their connection limit is reach, etc. We are running 11.4.x, is that something that is possible?