NCAA 4-36-7 (same for men and women):
The following shall be considered excessive swinging:
a. When arm(s) and elbow(s) are swung about while using the shoulders as pivots, and the speed of the extended arm(s) and elbow(s) exceeds that of the rest of the body as it rotates on the hips or on the pivot foot; or
b. When the speed and vigor with which the arm(s) and elbow(s) are swung is such that injury could result if another player were contacted.
The guidance on the women's side is that if the official deems the elbow contact with an opponent, above or below the shoulders, to be excessive, then the penalty is a flagrant foul. If it during a live ball, it is a flagrant personal foul; if during a dead ball, it is a flagrant technical foul.