I'm in my 40s, 5'8" 145 lbs, 36D and loathe my armpit flab as well! I've been as thin as 125 and even then, I still had it (albeit a smaller pocket) but, more importantly I didn't like how small I got everywhere else (i.e. my ass and curves suffered). I came to realize, long ago, that I just had to accept it. We can't control where our fat likes to hang out.
Fellow apples! We usually have great legs, great thighs and asses. We may never look smoking hot in a strapless gown, because we are covering all of our best parts. Focus on knowing how to dress for your body without honing in on the one problem area. Love your body and accentuate the best bits!