Everything in this world is negotiable.

The way around the 50K (plus bonus) cap is separate contracts.

I did this in 2012 the last time they were running a triple points promo. I walked out with about a million points before counting credit card bonuses.

Room block - one agreement
Room block (suites) for wedding party - another agreement.
Wedding catering - another agreement
Cocktail hour - 4th agreement
Brunch the next day - 5th agreement

You get the point.

I also negotiated an extra 250,000 points with my catering manager based on our overall spend at the property.