I had an ingrown hair that turned into a nasty lump last year. Mine was not a vein like Beth-Ro's (Rudie: are you sure it's a vein and not a follicle?). I had mine surgically removed. I was only off the bike for 5 days, I think. I have a little scar but it doesn't bother me anymore.

I'm with doc. Better to have it done by a professional (that also requires follow up to make sure everything is OK). My health is too important to me. Even if you don't have insurance, I'll bet you could still find someone to work with you, as Brandi alluded to.