Well me and my friends usually smoke at least two bowls at a time from pipes. So I have learned to take small quick hits. Back in the day I used to take BIG hits every time. I found out the hard way that too many big hits kept in too long will:
a) Burn your lungs (which I didn't feel when I was high)
and
b) Resin your lungs over so that your lungs aren't able to absorb the THC as well, which over time accumalated and stopped me from getting high.