It was too late to program and too early to go to bed, so I decided to play in Wings for a bit. It's not a spectacular breast reduction, and it was just a quick test, anyway, so I haven't even saved the file or brought it into Poser. This is the result of some tightening, then moving the nipples inward with a magnet, then a bit of tweaking. Making her breasts really small will require substantially more work, especially if the intermediate steps are meant to look nice as well. But I thought it was interesting to see what could be done.
-- I'm not mad at you, just Westphalian.