Baddness said:
As an object gains mass, gravity increases. As the latter increases, passage of time slows to someone with an external reference as the person near the mass observes the time of person further away as passing faster, unless I have mistaken something.
A couple of clarifications are in order here. First of all, where is the observer for whom the passage of time is supposed to slow? I'm going to assume you intend for the observer to be on the surface of the object. (Note that that will create issues once the object gains mass or reduces its radius past a certain point--see below.)
Second, what is important for determining how much time slows at the surface of the object is not just the object's mass or "gravity"; it's the ratio of the object's mass to its radius. In conventional units, this is the quantity ##GM / c^2 R##, where ##G## is Newton's gravitational constant, ##M## is the object's mass, ##c## is the speed of light, and ##R## is the object's radius. In GR, we often use "geometrized units", where the "mass" ##M## is actually in units of length, i.e., it's what we would write as ##GM / c^2## in conventional units. So in these units the ratio is simply ##M / R##, and the factor by which the passage of time slows for an observer at rest on the object's surface, as compared to an observer very far away, is ##\sqrt{1 - 2M / R}##. (Note that this assumes the object is not rotating.)
Baddness said:
According to the math from an external reference, does the passage of time slow to just an extremely slow rate, or can it reach zero?
If we require that the object is stable and has a surface that someone can stand on, then there is a limit to how much time can slow on its surface. That is because, for an object to be stable and have a surface, the ratio ##M / R## can't be any larger than 4/9 (in geometrized units), which means the factor ##\sqrt{1 - 2M / r}## can't be any smaller than ##\sqrt{1 - 8/9} = 1/3##.
Any object with a radius smaller than 9/4 of its mass ##M## in geometrized units cannot be stable; it must be collapsing into a black hole. A black hole does not have a surface that someone can stand on; to get close to its horizon, you have to be in something like a rocket that can accelerate you so you can maintain altitude against the hole's gravity. Assuming you have something like that, you could in principle get as close to the horizon as you wanted, i.e., you could make your radius ##R## as close to ##2M## as you wanted; and that means you could, in principle, make the factor ##\sqrt{1 - 2M / R}## as close to zero as you wanted. But the acceleration you felt would increase without bound as you got closer to the horizon.