There's no out of the box control to limit the field length in the way you want, you would either have to create a custom form field or the easier option would be to use some Javascript and CSS to achieve something similar.
Using a similar method to this answer I provided recently, create a CSS class called "limited-length" then add the following JS:
(function ($) {
$(document).ready(function() {
$(".limited-length").attr("maxlength", "150");
});
})($scw);
To restrict the single-line text field to alpha only you can use the "Letter Only" validation option.

If you want to stop the user typing non-alpha characters into the box then you will need to bind a javascript/jquery function, using a similar method as above and restrict the input to alpha keypress only.