Tooltips will automatically wrap if they get longer than the screen.

You might also be able to create wrapping by putting Environment.NewLine characters into your ToolTipText.

Other than that, I don't think there is a way to set a maximum width on the tooltips - at least not using UltraToolTipManager. But there might be another way to do it depending on what control you are using and what kind of tooltips you need to show.