if I have a 7.4V Lipo which peak charges till 8.44V... and I have a battery voltage check... what level can it drop to before I need to charge? basically my remote has an alarm which I want to set...

I think current thinking (ha ha) is 3.3 volts/cell, i.e. 6.6V for you. Used to be 3.2volts/cell. However, if you get to that point when you are flying, things are not going well and your ESC may start limiting power to the motor, or shutting it down.

Actually the normal cutoff is 3.0 V, which leaves you a good safety margin.  You can go as low as 2.7 V but you're taking a big chance, and the additional power you'll get is less than 1%.

I should have said that the voltages quoted are per series cell.  Your 7.4 V. pack is probably refered to as a 2S1P (2 series, 1 parallel) pack.  Even with a 2S2P (2 series of 2 parallel cells) pack you're still looking at charging at a voltage for the 2 series, and at a current for the specified pack capacity, which would be twice the capacity of each of the 4 cells.  I hope this isn't too confusing.  I'll be watching this post if you need clarification.

The normal maximum charging voltage for a Li-poly cell is 4.1 to 4.23 V per series cell.