I would like to take and modify the P90X program to lose weight a lot of it. I especially want to lose weight in my stomach and breast areas.

Any ideas what to do more of, less of, etc?

I'm not so sure it is going to be exercise that helps you lose weight. However, good nutrition will help you lose weight.

Have you taken count of what your current calorie intake is currently? I would suggest doing so before you begin the program. That will give you an idea of what you are eating to maintian your weight. From there, you can modify the diet to your nutrition needs. If you want to lose, I suggest eating 200-300 calories less than what the diet recommends.

I used to calculator and it wanted me to eat 2100 calories a day. Honestly, I ate about 1450 to maintain my weight. I've added 200 calories to my diet since starting the program and I've lost 7lbs. Almost all of it was lost in the first two weeks. I'm only 5'5" so I'm pretty sure I've hit very close to the bottom of the weight my body will allow me to cut.

With P90x, I have lost 4 % body fat, gained 4 pounds using classic after 31 days. The additional weight is due to muscle development in the core and upper body, but I look leaner for body fat is reduced. The jeans are loose and I feel stronger and energized each day for more exercise.

If your goal is to lose body fat around the stomach and breast, I suggest classic. If major body weight loss is your goal, then follow a weight loss program counting calories with a balanced meal plan combined with cardio, walking.

nutrition is key, too make it easier follow this website to count your calories and daily value you need from the P90x recommended intake.
http://caloriecount.about.com