Step 1: Either the Mughals manage to keep themselves together, or they get replaced quickly, without a long period of instability. Consequently the BEIC never takes control of the Subcontinent.Just restrict European colonialism to costal ports and trade forts.
Step 2: European colonisation in the Western Hemisphere happens much as IOTL, with the American Revolution and Spanish American Wars of Independence. The lesson drawn from these conflicts is that trying to keep control of a country-sized colony on the other side of the world is ultimately a losing game, and it's much more sustainable to limit direct control to individual forts or trading outposts, and for the rest, just to focus on getting advantageous alliances or trading rights for local powers.
This would probably fulfil the OP, I think. With the exception of British India, European colonisation in Africa and Asia pretty much was limited to coastal ports and trading forts until the later 19th century, and if the European powers decide by that date that extra expansion will just result in overextension, you could probably keep this situation going more or less indefinitely.