The external supply voltage range (at least on these dual AA cameras) is same as the battery voltage range. So, if you momentarily go below 2,0 VDC after all connector and cable losses (which are rather significant) the camera will shut down, and 3.3 V peak can't be destructive.
Note that the camera's internal batteries are disconnected when running on external power, so the quality of external power really is essential. Unless your 50 cameras are all close to each other (not more than a few meters from the pack), a single 3 V battery pack may not perform adequately, and the lower the voltage, the higher the risk of undervoltage shutdown.
I'm using regulated 3,0 VDC / 3 A switching PSU's (I have one powered from mains and one from 12 VDC...they are both actually for my NiMH charger).