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Event storms in NPM/LM

What is the best way to handle event storms in NPM and/or LM? I see comments on using groups to do this. There is also a parameter in the alert setup "Alert can be triggered if objects (at the same time) have met the specified condition and then trigger single alert".

We will be installing NPM and LM for Orion for the first time very soon. In our current platform, we had a trap storm of around 1400 traps within 1 minute, which were unable to be processed. I would like to be able to create a single event when I get repetitive events from one or more objects without compromising smaller number of events that come in. Does the above setting do that? Or how would I do this using NPM groups?

Thanks.

Steve