If you fall too far you are stunned (and have a lightly sweary reaction, from a random selection of silly rude words).
This looks frivolous, but behind the scenes I've introduced a state machine for the player, allowing me to easily add more sophisticated behaviour and animation.
Iāve had to give each monster an explicit state machine, like I did for the player. I never learn! State machines simplify the code so much. But I always leave it too late to write them and then have to refactor from a ratsā nest of flags and if statements. And #Pico8 has no automated refactoring tools, which makes me put it off even longer. A vicious cycle.