The quickest solution will be.
- Create a custom product tag called
Available. - Create a
Cancel Ordersaction and enableOnly Last Ordersetting. - Create a
Order Addedrule and if{ITEM TAG:Available}EqualsNo, executeCancel Last Orderaction. - Go to related product page and update
Availablesetting asNo.
You can improve it by asking a question to cancel order or add anyways.