First, before I start this, let me define these two things so we are all on the same track for descriptions.
Pot Odds is the way to describe the ratio between your bet, and the total pot. Example: The bet is to you for 10 chips, and there are 60 chips in the pot. This is 6:1 pot odds (your betting 1 chip, to win 6). Pot odds are handy when you compare them to your winning odds. If you are holding AK, and you figure the other guy has pocket pair (or worse) your winning odds are about 1:1. 6:1 is much higher than 1:1, so this is a good bet to take. However, if your still on a flush draw after the turn, your winning odds are only 10:1. Thus, 6:1 pot odds would not suggest you should bet on that draw.
Action is simply that. Players in the pot, ready to see the next community card to be dealt. The more players in the hand, the more action there is for that hand. Usually, you want less action. If you're playing against 4 players, the chance that someone will hit their hand is much better than when playing heads up.
Okay, now that that is out of the way, here's the problem. Action makes for better pot odds (more players in the hand means more money in the pot for the same bet). So my question is, when do you stop playing by pot odds, and start getting out of hands with a lot of action? I usually will fold if there is a raise with 2 callers, or if there is a raise and then a reraise (unless I have the nuts, ofcourse). Where do you guys draw the line? or do you not even count pot odds, or consider the amount of action before you bet?