You can limit FRA for each database with DB_RECOVERY_FILE_DEST_SIZE parameter.
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As Mihael said, you limit the FRA size with the above mentioned parameter. If it fills up, then the database will stop responding but that doesn't mean that the whole diskgroup will fill up. If you have a 100 Gb FRA diskgroup, for example you can limit the FRA to 10Gb for each DB (more or less depending on the redo generation trends) and if you have a sound archivelog backup and deleting policy, it won't even come to that. Your diskgroup will look like this: