What will happen if I masturbate too much?

Masterbation. Depends. If this happens at inappropiate times then you may suffer from effects of anti-social behavior. You may become addicted to masterbation and it may interfer with your life. Depends on what is too much. Talk with your doctor concerning getting help.
Nothing bad. All the old fairy tales about what harms masturbation does are just that - fairy tales. It is a normal activity for both men and women to release sexual tension. However, the worry and guilt about it can cause its own problems. In people who are truly compulsive with it, it causes the same problems any compulsion can cause and gets in the way of normal life. See a counselor or doctor for advice.