What computer operating system is your Premiere Elements 11 running on?
If you upload your Premiere Elements 11 Timeline to YouTube from with the project, then it is
Publish+Share/Online/YouTube and you use the appropriate preset for the upload after you sign in to YouTube and get your authorization. There is a limit....2.0 GB and 15.0 minutes (no exceptions).
But, you can also export your Timeline to a file that you save to the computer hard drive and then upload that file from the hard drive save location to YouTube at the YouTube web site. Typical export to file route is Publish+Share/Computer/AVCHD and one of the presets there. Presets are adjustable under the Advanced Button/Video Tab Audio Tab of the preset. If you go that route, there should be an opportunity for you to get more time from YouTube than allowed in Premiere Elements feature. Even if you can get more time at YouTube direct, you do not get more time within Premiere Elements and its YouTube feature.
The exact settings in either case would be dependant on what you have on your Timeline. So, more information on that if you want more specific settings details.