Is it correct to use the conjunction “or” more than twice in one sentence?

Solution 1:

The statement as you gave it might occur in speech, but forms joined in this manner are not preferred in writing. Instead, separate the items with a comma, and put or only before the last item:

You may use X, Y, Z, or even something else.

This is effectively the same as the rule for lists of items joined by and.

(Oxford comma forever!)