Advice: I want my arms to be shrinky dinkz...

I am still really new to weight lifting, so I can't be too much help. I can tell you that you need to be working your triceps and 5 lb. weights won't do what you need to tone the jiggly arm fat up. You also need to doing more than just the lat pull down. If you are interested in lifting, I am doing the New Rules of Lifting for Women program and I love it so far. You should look it up. It can help you more than I can.

No amount of arm exercises will shrink the fat on your arms. Your body picks where fat loss comes from. The arm exercises will only serve to help muscle endurance (the 5 pound weights), possibly build a little, and maintain the muscle you do have.(the 110 pound pull downs, although that's less arms). You must burn more calories than you consume for fat loss, your arms will eventually get smaller. But, be aware, the jiggle may not totally go away until you're a rather low bf. I lost almost 50 pounds, gained 12ish back, a bit was muscle, and have lost a few more again, and am a size two and still have jiggle in my arms, even with decent muscle underneath.

Keep lifting heavier. Keep up the cardio. Get your diet completely in check. Get to a decent bodyfat percentage, then up your cals to build a little muscle (fat comes with it, but it will help give you nice arms). I'd also suggest focusing on a full body routine with compound movements to help in the fat loss process. Bench press, squats, deadlifts, military press and overhead rows. Skull crushers are great for targeting the triceps as well, but the big lifts are what I'd recommend most.