In Alpha Sigma Phi, there's no strict rule on hanging chapter guards and/or officer dangles other than keeping them plain instead of jeweled, in keeping with the unjeweled badge.
Good rule of thumb to follow: don't hang more than two or three dangles from the guard chain. Hang only the dangles representing the highest three offices or service awards held. Any more than that tends to detract from the badge. You want to call attention that you're an (insert name of fraternity or sorority), not that you held a sh*tload of offices while an undergrad or an alum.
My two cents' worth - your mileage may vary!
