you cannot change the repo history, but you can create a new repo with a selective history in it using hg convert, but this will require that everyone switch to a new repo, which may or may not be a problem for you, depending on how the project is launched.
hg convert , filemap
exclude path/to/really/big/file
hg convert --filemap filemap oldrepo newrepo
, :
hg log --template "{file_dels} "
,