Here is how I would break it down per vector for version 14.5.
Endpoint - Select the “Application Monitoring” channel for monitor since it includes Google Drive. This will allow you to prevent sensitive file uploads and it covers the following applications; Box, Dropbox, Google Drive, HighTail, iCloud, Microsoft OneDrive, Microsoft Skydrive. I would also suggest monitoring all web browsers and HTTPS traffic so you can see uploaded via a web browser.
Network - In order to see Google Drive HTTPS traffic you would have to be integrated with a web proxy to see HTTPS traffic via Web Prevent. The issue here is that some proxies have issues intercepting Google’s HTTPS traffic and if a user is off the corporate network the traffic may bypass the proxy.
Discover - This is a feature that hasn’t been released yet but once it is available you will be able to scan Google Drive for sensate files. The would require you to have an admin account for Google Drive so would only work for a corporate Google Drive deployment and not personal accounts. Now there is a work around if you run an Endpoint Discover scan and the Google Drive application is installed then you could scan the synced file to find sensitive files.
Overall your best approach is going to be Endpoint monitoring and stopping all new uploads to Google Drive. Also the Endpoint Discover scan may provide you with some insight into what users have synced via the Google Drive application.