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Add water to a bottle of aspirin until the aspirin dissolves into a paste. Then, apply the aspirin paste to your nose ring bump each night. Let it sink in overnight and then wash it off in the morning.  Make sure you continue to clean your nose ring as you normally would before and after applying aspirin paste. The strength of the aspirin does not matter, but stronger aspirin could potentially be more effective. Place a bag of chamomile tea in warm water to get it slightly damp. Then, press the bag on your nose ring bump for about 10 minutes. If the bag loses heat during this time, dab it in some warm water before reapplying it to the bump. Tea tree oil should never be applied directly to the skin, as this can cause a rash and irritation. Add only a few drops of tea tree oil to a small amount of a carrier oil such as olive oil. Then, dab a cotton ball in your oil. Swab the cotton ball around the bump to reduce swelling. Some people respond poorly to essential oils, so cease using this method if you notice a rash or another bad reaction. Baking soda's grainy texture can be used as an exfoliating agent, which may help reduce swelling and bumps associated with nose rings. Mix a teaspoon of baking soda with a drop of water to make a paste. Then, rub your paste into your piercing. Then, rinse the paste off with warm water.
Try an aspirin paste. Use a chamomile tea compress. Apply tea tree oil. Try exfoliating with baking soda.