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We limit personal donations to keep the mega-rich from straight up buying candidates outright, but PACs are different because they act as a vehicle for more than one person to donate to/support a candidate. It's the same sort of logic to why we have corpo personhood. A better thing to do would...

Limiting donations to in-state only, and not allowing PACs. Interferes with exercise of political speech, which SCOTUS ruled political donations count as.

A lot of it runs straight into the 1st Amendment and attempting to put limits on 'political speech' won't pass muster with SCOTUS. Citizens United is here to stay, whether you like it or not.