I know you can only consume about 40g of protein at a time. So how much time does it take till you can consume another 40g?

40g is around the max; iv heard 30 before.
because the metabolism in amino acids kicks in an a few hours, the body does not store protein(generally). so you must feed it protein often, usually every 2-3 hours is best.

Ouch i might have gone over in the past 2 and a half hours. Fiber-one cereal with non fat milk, a protein shake with milk, worked out, tukey sandwhich with light wheat bread, then another protein shake. all within about 2 and a half hours.

its fine.
you had your pre workout meal(the cereal and protein drink),
then you workout out, so your body was craving nutrients.
even though only around 2% of the energy used during ~1hour of a lifting session is from protein, you should resupply your body with the essentail amino acids it needs after a workout so that it can use them for repair of your body.

which leads me to advise you to eat only simple sugars and a lean protein after a workout(PWO meal).
this is to spike insulin in the blood so that the nutrients in the pwo meal are swept into the bloodstream allowing for a faster recovery.

so although a turkey on whole wheat sounds good, you should leave that for 1 hour after your PWO meal. it will do well as a PPWO meal(post post workout meal where you want to get a complex carb sourse with a lean protein)

cheers

Thanks for the info.