I would suggest you set a maximum amount of connections for your multicast. This can be done via the Configuration panel (Start ---> Programs ---> Altiris ---> Deployment solution ---> Configuration).
Click on Options. Click on the Disk Imaging tab. I would set the number no higher than 10 (I personally use 4 with no problems). If I understand the process correctly, it will create groups with multiple masters.
Each Master will redistribute the image to the amount of machines listed in the configuration. The more machines you put in there, the slower your network will become.
Also, on a side note, multicasting can be dangerous on the network if you aren't segmented or your network hardware isn't configured properly. You may wish to talk with your networking group before they start looking for you with pitchforks everytime their network slows to a crawl.