This has nothing to do with Perl the interpreter. Adding a new option to the Perl interpreter would not help. This is purely an issue with the Perl ISAPI extension and IIS on Windows. Unfortunately, the Perl ISAPI extension from ActiveState is not open source and does not seem to be actively maintained. There are other aggravating issues I used to run into. I never had problems from infinite loops.
If Perl ISAPI doesn't work, there are two options for Windows web hosts. One was PerlEx sold by ActiveState. It seems this is discontinued and PerlASPX is replacing it. Two is run Apache and mod_perl or CGI Perl apps. Apache2 on Windows works fine and mod_perl has improved greatly.
If you are going to ask ActiveState to open source the Perl ISAPI extension, I would suggest asking politely.