Unfortunately, there is not an easy way to do this with CNiKnob. One way you could work around it would be to handle the CNiKnob's OnPointValueChanged event and keep track of the previous value, then detect if the value jumps from the min to the max or vice versa and if it does, set it back.
If you migrate to .NET in the future, the Measurement Studio Windows Forms .NET Knob control lets you easily configure this and is the default behavior when you add a Knob to your form. For more info, see the documentation for the Knob.InteractionMode property.
- Elton