RE: Quarter Dead Lifts
Try lower intensity cardio for a longer time. Low intensity for longer periods gives you the same benefit as higher intensity for a shorter time. It is okay to "work out" for 2 hours if you are walking, just do it at the highest intensity you can that's out of the asthma zone.
Cardio and low calories (high quality ones) are the combination that will cause loss of body fat, which is what you are describing. Weight work like dead lifts will shape what's underneath.
I don't advise trying to shoot for the 5 hour workout!, just add as much activity to your life as you can, and limit your calorie intake. Your asthma will get less bothersome if you do this (if you are like most people) and keep sipping water. This is what I have gathered from reading what other asthmatic people have written. Your mileage may vary!
Also, continue weight work as intense as you can, short of triggering an asthma episode. Increased overall fitness often does help quell the symptoms of asthma, from what I have read.
-C.