For Daily, tournament directors can define a maximum time out percentage, which should help some with that, depending on how recent those were.
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I think if a player has too many time outs in tournaments they should simply be suspended from playing in further tournaments. It's not fair to lose many more points to someone because their rating is much lower from all these time outs.
If the losses are deliberate, in my book that is cheating and I think Chess.com agrees. In that case, they should still be banned from the site and I think that does happen.