Rack: Impossible to clip internally?

Back when I used Reason, its mixer used 32-bit internal processing, so even if individual tracks completely pegged their meters 100% of the time, the headroom of 32-bit processing made it impossible to clip. The only signal/meter you had to worry about was the Master going to your audio interface.

Does Rack work the same way? In other words, is it inconsequential if I peg individual channels on a mixer module as long as I keep the master from hitting 0dB and/or place a limiter just before the Audio-8 module?

Yes, Rack supports voltages up to FLT_MAX = 3.402823e38f between modules, and VCV Audio clamps the values between +/-10V and rescales them to +/-1. However, each module may choose to clip outputs/input, so it is up to the mixer or processor you’re using.