Thanks Loftux, you pointed me in the right direction. I'm not too familiar with the service parameters but with the help from that how-to link you provided, I successfully changed the java settings for alfresco. I did so by uninstalling the alfrescoTomcat service, changed the jvm settings inside the %alfresco_home%\tomcat\bin\service.bat file, and then used the "Install Alfresco Community as a Service" to reinstall with the new settings.
Good to go!
-Buster