Well, the problem of "Too many vertices in model" in Milk shape is not easy to fix (and it's not even hard to do) so if you follow this steps, you will succeed.
First, let's take a look to the problem, i will show you my problem and then i will tell you how to fix it
The Problem : I made a Gauss gun model, it's big... with a lot of details, and that's why i have the problem of vertices, so milk shape doesn't let me compile this model, but there's a way to fix it and compile it
The Solution: save the model in different parts of SMD, but how?, look:
1) open MilkShape and select the half part of the model and then delete it
2) export what's left as SMD, in my case i used the name "Gausspart1"
3) now select MilkShape Edit> Undo (or Ctrl+Z) and the part of the model that we deleted before should reappear
4) Press "Ctrl + i" and you should see that Milkshape automatically selects the other part of the model (the part that you already exported, in my case as "Gausspart1")
5) Now delete this part, because this is the part that you have already exported, so the only thing left in the model is the other half part, and that part of the model is the part that you deleted before... (in the step "1") so the only step left is to export this part as a SMD with a diferent name, in my case "Gausspart2"
6) Open the QC file and search the bodygroups, in my case i had to modify them, because they need to look like this :
// mesh reference (s) $ body "studio" "Gausspart1" $ body "studio" "Gausspart2"
(the "studio" name could had any name, it does't matter)
(and "gausspart1" and "gausspart2" are the names of the parts of the SMD files of my weapon model, i used those names because i was doing a gauss, in your case you must do the same thing but with your model, i'm talking about the name of the parts, hope you understand)
That is the way to finally compile it :)
*If you have the same problem again, do the same steps again, but this time export the model in more parts of SMD
*and... please remember to check the bones of the model, because if there's a bone wrong or a joint missed, you will have to re assign it/them or find it/them, in my case that's what happened after fix the problem with vertices, i fix the problem with vertices but again i found a problem of :
************ ERROR ************
cannot find bone Spinner for bbox
if that happens to you, you can reassign the bone or joint missed, but if you want to fix it fast and you don't care about that bone you can delete it (it can ruin an animation) but if you want delete the bone anyways : you can delete the bone missed of the hbox, if you want to delete the bone, in my case i deleted this:
$hbox 0 "Spinner" -3.020000 -1.750000 -2.480000 0.000000 2.550000 2.480000
(the spinner bone was the thing missed in my case)
that's all, hope you understand and i didn't posted pictures because actually i don't have a model with that problem, i will do a video explaining it step by step on a model (maybe someday because i should be studying and working in a mod and other things)