There was an IBM PRPQ called RESLIM that did something like this in the distant past, but I don't think it was brought forward into the z/VM era. You could probably do this with Performance Toolkit (I think it has the idle session monitor information; I'd have to look it up), but there may be a simpler answer.
If you are trying to ensure that sessions aren't sitting around connected with no one using them, you could use the timing mark support in the TCPIP stack to disconnect a session after a delay if your clients reliably support disabling response to time-mark (some do, many don't). You would still need to adjust the time that CP keeps a session in CP READ, but that's doable if you are on a modern CP. The discussion of time-marks in the TELNET server is in the TCP Planning and Admin manual. The discussion of how to modify the CP READ timeout is in CP Planning and Administration. Contact me offlist if you'd like help implementing it. -- db