MySQL : Is there a command similar to FLUSH STATUS to reset GLOBAL STATUS

While I agree with Rolando's recommendation to change innodb_flush_method, I wasn't 100% clear what you meant by:

it did not make the actual MySQL setting changed

I want to point out the caveat that making a change to the GLOBAL variable affects any new connections, but does not modify the current session (emphasis mine):

The global variable change does not affect the session variable for any client that is currently connected (not even that of the client that issues the SET GLOBAL statement).

So to check that:

mysql> SHOW GLOBAL VARIABLES LIKE 'innodb_flush_log%';
+--------------------------------+-------+
| Variable_name                  | Value |
+--------------------------------+-------+
| innodb_flush_log_at_trx_commit | 1     |
+--------------------------------+-------+
1 row in set (0.00 sec)


mysql> SHOW SESSION VARIABLES LIKE 'innodb_flush_log%';
+--------------------------------+-------+
| Variable_name                  | Value |
+--------------------------------+-------+
| innodb_flush_log_at_trx_commit | 1     |
+--------------------------------+-------+
1 row in set (0.00 sec)

mysql> SET GLOBAL innodb_flush_log_at_trx_commit=2;
Query OK, 0 rows affected (0.00 sec)

mysql> SHOW GLOBAL VARIABLES LIKE 'innodb_flush_log%';
+--------------------------------+-------+
| Variable_name                  | Value |
+--------------------------------+-------+
| innodb_flush_log_at_trx_commit | 2     |
+--------------------------------+-------+
1 row in set (0.00 sec)

mysql> SHOW SESSION VARIABLES LIKE 'innodb_flush_log%';
+--------------------------------+-------+
| Variable_name                  | Value |
+--------------------------------+-------+
| innodb_flush_log_at_trx_commit | 1     |
+--------------------------------+-------+
1 row in set (0.00 sec)

mysql> connect;
Connection id:    6
Current database: *** NONE ***

mysql> SHOW SESSION VARIABLES LIKE 'innodb_flush_log%';
+--------------------------------+-------+
| Variable_name                  | Value |
+--------------------------------+-------+
| innodb_flush_log_at_trx_commit | 2     |
+--------------------------------+-------+
1 row in set (0.00 sec)

The advice you've seen about max_connections is a distraction from the issue you're seeing, because it has nothing to do with connection errors.

You can log the failed connections to the mysql error log by issuing this:

SET GLOBAL log_warnings = 2;

You can also make this a permanent setting in my.cnf so that it persists after a restart.

http://dev.mysql.com/doc/refman/5.5/en/server-options.html#option_mysqld_log-warnings