I've read in the medical literature of nodules as big as 10cm (4 inches). It's unusual for them to get that big if your physician is aware of them, though, because, as MANmom said, physicians will generally recommend you remove them before they get that large.
The 2.4 x 4 cm nodule should probably be biopsied, though. Docs will routinely biopsy anything over 1 cm. The vast majority of these nodules are just benign cysts (fluid-filled sacks) or overgrowths of normal tissue. Generally, Docs will use ultrasound to get an idea of the size and dimensions of your nodule--and now they know it's there, they can keep an eye on it with periodic ultrasounds and biopsies.
They can get pretty big, although usually when they are over 3 cm they want to remove them. Yours is very large at 4 cm. The smaller one is too small to do anything. They can do a biopsy on the big one, although it will probably have to come out eventually. I have heard of nodules getting up to 6 cm, but most doctors want to remove them before they get that big. There is a nerve that runs through the thyroid that controls your vocal function and breathing, so they want to get it out before it causes damage to the nerve or they cannot remove it without causing damage.