ArcView only allows two FCs to be unioned at a time. Here is some ***untested*** Python code that could serve as a work-around:
#Be carefull to delete any "tmp_*" or "final_union" FCs before you run the code... otherwise those'll get unioned too
import arcpy
arcpy.env.workspace = r"C:\temp\python\test.gdb"
fcList = arcpy.ListFeatureClasses("*", "POLYGON")
i = 0
for fc in fcList:
i = i + 1
if i == 1:
unionFcList = [fcList[i-1],fcList]
else:
inputTmpFC = "tmp_" + str(i-1)
unionFcList = [fcList,inputTmpFC]
outTmpFC = "tmp_" + str(i)
arcpy.Union_analysis(unionFcList, outTmpFC)
arcpy.Delete_managment(inputTmpFC)
arcpy.Rename_managment(outTmpFC, "final_union")