i'd recommend schott nyc jackets as i'm also 5'5". i have the cafecto and the 689H (horsehide) jacket. both fit really well for me. sleeves and overall length as good as i could get besides getting custom made (hate when jackets would be too long and bunch up when i'm sitting on my bike). if there's a store nearby you, i'd suggest you definitely swing by and try on a few. most of their styles really go well with the bobber feel. they are a little pricey, as their all made in usa (NY). but there's a nice rich history behind the company and all their jackets have a lifetime warranty. think they also do make custom sizes too!
also vanson is another company similar to schott. i have one of their wax-cotton jackets (dover). and it fits well also, lengthwise good, although arms are a little long but not too bad.