Nebula,
I'm not sure what's going wrong for you. I'm pretty sure Milena has no custom morphs, and only uses the regular V2 morphs, so if you do have the V2 Morphing Clothes as it sounds like you do -- you shouldn't be having this problem.

I just loaded up Milena, left her in default position, selected Body, and noted on a piece of paper the values of the eight non-zero morphs that affect the breasts:
Breast Sizes 4, 5, 6, 7, 8, BreastGone, BreastMale, BreastNatural, and TopSlope. I loaded the Bikini Top (which appears to be what you're calling the Bra) from the Morphing Vicki Clothing folder, conformed it, and got your Figure 1. I selected Figure 2 (the Bikini), Body, and applied all the same body morphs to the eight dials listed above.

And at that point, I have to say, I've got a great fit, much better than your Figures 2 or 3, except that the nipple is sticking out. Going in to the Left and Right Collars of the bikini and dialing a Nipple Out of .5 fixes that and it looks great. (I have to go to sleep now, but I'll post a picture some time this weekend if this becomes necessary to make you believe me.)

The only thing I can think of that you may be doing wrong from your description is you may be trying to match up too many morphs. For instance, Milena has some Left Collar morphs which, if applied to the Bikini's Left Collar, for some reason screw up its lines a bit.

But just do the ones I describe above, and you should be in good shape.

Bill