Create event:
var can_be_picked_up = true


Collision with the player event:
can_be_picked_up = false
alarm[0] = 300 // This is the "cooldown" time in "steps" or frames. If you want to use seconds, put (5 * room_speed). This way you don't have to rewrite everything when you change fps from 30 to 60 or anything else
/*Code that gives the power-up to the player*/


Draw event:
if (can_be_picked_up): draw_self // Act as if everything was normal if it can be picked up, don't draw anything if not available


Alarm[0] event:
can_be_picked_up = true