Manning had 400 completions last year...
94 to DT, 85 to Decker, 45 to Stokley... 224 total to top 3 WRs. Now add Welker to the mix and remove Stokley you are probably looking at 250 receptions between the big 3. That leaves 150 left
MacGahee, Moreno, & Hillman got 57 receptions total. Lets say 50 for this years RB core. That leaves 100 left.
28 receptions went to random players. Lets say 25 this year to random players. That leaves 75 left between the TEs.
Considering Tamme, Dreesen, and Green are still on the roster I think youre insane if you project Thomas to get more than 48 of those remaining 75 catches.