[jQuery] Writing a plug-in that uses jQuery .live() method, but something doesn't work...

Hi,
I'm trying to write a plug-in that enforces a character limit on a
textarea of a form that is dynamically loaded via Ajax. If the
character limit is reached, I "disable" keyboard input except for a
few keys.
Without writing a plug-in, this code works:
(function ($)
{
    $ (document).ready (function ()
    {
var charLength;
            var textfield;
            var charLimitReached = false;
            /* User cannot enter number of characters greater than character
limit */
            $(".your_comment").live("keydown", function(event) {
                textfield = $(this).val();
                charLength = $(this).val().length;
                /* Once character limit reached, only arrow keys, backspace, and
delete keys will work in the textarea */
                if (!(event.which == 46 || event.which == 8 || event.which == 37
|| event.which == 38 || event.which == 39 || event.which == 40) &&
(charLimitReached == true)) {
                    event.preventDefault();
                }
            });
            $(".your_comment").live("keyup", function(event) {
                textfield = $(this).val();
                charLength = $(this).val().length;
                if (charLength >= 1000) {
                    charLimitReached = true;
                } else {
                    charLimitReached = false;
                }
            });
        }
}
}
) (jQuery);
When I wrap most of this functionality in a plug-in format, this no
longer works. Specifically, the return this.each() doesn't seem to do
anything:
(function ($)
{
/* Plug-in function to enforce character limits on form input and
textarea elements */
        $.fn.enforceCharLimit = function(options) {
            /* defaults */
            var defaults = {
                charLimit: 1000
            };
            var options = $.extend(defaults, options);
            /* Apply behavior to all matched elements and return jQuery object
for chaining */
            return this.each(function(){
                var charLength;
                var textfield;
                var charLimitReached = false;
                /* this refers to DOM element inside each() Use jQuery object
instead */
                $(this).live("keydown", function(event) {
                    textfield = $(this).val();
                    charLength = $(this).val().length;
                    /* Once character limit reached, only arrow keys, backspace, and
delete keys will work in the textarea */
                    if (!(event.which == 46 || event.which == 8 || event.which == 37
|| event.which == 38 || event.which == 39 || event.which == 40) &&
(charLimitReached == true)) {
                        event.preventDefault();
                    }
                });
                $(this).live("keyup", function(event) {
                    textfield = $(this).val();
                     charLength = $(this).val().length;
                    if (charLength >= options.charLimit) {
                        charLimitReached = true;
                    } else {
                        charLimitReached = false;
                    }
                });
            });
        }
$(".your_comment").enforceCharLimit({ charLimit:
1001});
) (jQuery);
Any help would be appreciated. Thanks.