The quickest solution will be.
- Create a custom product tag called
Available
. - Create a
Cancel Orders
action and enableOnly Last Order
setting. - Create a
Order Added
rule and if{ITEM TAG:Available}
Equals
No
, executeCancel Last Order
action. - Go to related product page and update
Available
setting asNo
.
You can improve it by asking a question to cancel order or add anyways.