In 1986, the GOP lost like 8 Senate seats (and the Senate Majority) and a lot of House seats.
Part of which was due to Republicans winning a bunch of seats narrowly with weak incumbents in 1980, particularly in the South. Because 2008 was such a good year for the Democrats in the Senate, they have potential for big losses in 2014... it helps that they don't have any joke senators among their incumbents, Al Franken excepted, but even if Mark Begich is a stellar politico it won't necessarily save him.