I think you can get away with a single row of butt-links to close up the seam after taking out some material from the sleeves. You just have to do the cutting from the underside of the sleeve where it won't be that visible.
Anytime this comes up, I always want to include my normal warning-- Don't remove too much!!! The sleeve will still need to hang off your arm a bit to have enough room for your elbow to flex. Test where you want to do the cuts by tying a lace through the links to pinch off some material and see if it still lets you move. And the new seam should be a gradual taper from the armpit to around the elbow area. If your sleeve is longer, you can get away with a more linear tube shape for the forearm, probably (though I haven't tried that since mine ends at the elbow).
I know this because I took too much off the first time. But this was my butted aluminum set, so re-adding links wasn't a problem, just annoying waste of my time.