What happens if you ejaculate to much?

Usually not a factor. As long as the sperm parameters are normal (count, motility, morphology), this is probably not a factor. Important that if couple is having difficulty conceiving after one year (6 months if woman > 35 years old), then seek an infertilty evaluaiton with one's gyn or infertility specialist.
Excess Ejaculation. I doubt that you really can ejaculate too much from a physical perspective. Men produce an enormous number of sperm. When a man is trying to get his partner pregnant, then excess ejaculation can be a problem particularly if the sperm count starts low. I recommend o my male infertility patients that they should have an ejaculation about every other day near female ovulation. Otherwise no worry.