First of all, that is not restricting the government's control over my life - it is increasing it by giving them the ability to further restrict the candidate I can choose to vote for. My current congressman is one of the most conservative men in the House. If I want to vote for him for twenty terms, I don't need the Federal government to tell me I can't.
Secondly, I think strict term limits will only give further control to the two parties and the people who buy influence with them. Politicians facing term limited ends to their careers will have absolutely no reason to answer to their constituency. They will only have reason to answer to the party leadership - the people who make sure that they transition smoothly into their reward jobs as lobbyists or corporate officers. They will vote exactly as they are paid to do, and when they are done, the next party-appointed apparatchik will step in for his two terms of doing the same.