I am sure they could attempt to fix something like that. Be aware that plastic surgery is not an exact science though, and things can go wrong. There is a thread in here about breast reduction and enlargement horror stories that is pretty nasty! So chances are that everything will be fine, but if you decide to go through with this, you have to be willing to take that little bit of a gamble.
Personally, I kind of like the line, but that's just me.
I am not sure how much the lip reduction would cost, but I also have heard the figure $4,000. Not sure if that was for the entire procedure or not. Make sure you are willing to take a little bit of a gamble there too. Most people are happy with their procedure, but some are not. I have heard that for one week after having lip reduction, the lips will be bruised and swollen, and the person will need to be on a liquid/soft food diet. Not trying to scare you here, just trying to help you make an informed decision.