Methods, systems, and computer readable media for implementing bandwidth limitations on specific application traffic at a proxy element are disclosed. One exemplary method includes receiving, at a proxy element, a packet flow from at least one source client, identifying encrypted packets associated with a specific application traffic type from among the packet flow, and directing the identified encrypted packets to a bandwidth limiter in the proxy element. The method further includes applying a bandwidth limitation operation to the identified encrypted packets and decrypting the identified encrypted packets if an accumulated amount of payload bytes of the identified encrypted packets complies with the parameters of the bandwidth limitation operation.