I don't know anyone who actually reduced the peeling cycle by not applying anything, no forceful peeling or changing diets. I believe this condition won't completely disappear by itself without improving the circumstances which boost the skin's regenerating capacity. Among these are cleaning the lip-skin, natural ointments,(subtle) changes in diets, reduction of stress, and in some cases specific additives such as vitamins/ minerals, which some people have recently reported to be helpful.
Please inform us a little about your current lifestyle, such as smoking/ alcohol/ dietary changes/ usage of all-natural products etc, so that we can compare and perhaps provide meaningful advice. Also check out the EC wiki and see if some case histories match your own :)