Well, there is a more efficent way to have a small amount of spells/levels for big damage values. Since the data field in object editor of this ability you mentioned only allows integer numbers anyway, I assume you only need whole numbers. I have not seen the damage display having floats too.
The main point is that different instances of this ability do stack. So you could have an ability/levels with the hundreds values, one decadic and one for the last digit to compose 483=400+80+3 for example. This would be 3*9=27 ability levels (you can delete the ability for a null) for a range from 0 to 999, better than the 999 ability levels you'd have with the method you proposed I guess.
But you can reduce it even further. Each integer can be created by adding different powers of 2.
If you want to have 87 damage, you can split this into 64+16+4+2+1.
The range for n abilities (one level each) is from 0 to 2^n-1.