I've seen on several watch sites that 'overwinding' is not usually possible. It's likely that the watch has some issue that prevents it from running and your attempts to make it run by winding it will eventually wind the spring to its maximum capacity. Possible problems are simple dirt or corrosion, lack of lubrication, or broken or dislodged parts. I've read that it's not simple for laymen to diagnose or repair (for example, using WD-40 to clean out gunk may dissolve sludge but will also remove watch oil and grease from pivot points). The consensus recommendation is to have a watch repairman clean and oil the watch, which will also identify other possible problems.
w, September 2010