I'm not sure if Lei-Fang and Tina would be considered conservative. Although, maybe their costumes would be (if that's what you're talking about).
Breasts bouncing are about as natural as breathing, really. So it shouldn't really be an issue, from an animation and details-oriented perspective, to have them animate and move realistically. In the case of DOA5, they don't really animate as realistically as they should. If one is distracted by it, I imagine one simply isn't used to the details, but I also suspect that its a good indication one is a healthy male. =)
Just keep playing the game, or try playing a character who requires a certain degree of focus on the complexities of their move list and on their opponent. Characters like Akira, Brad, Hayabusa, and Lei-Fang seem to require a bit more intensity and could take your mind away from other distractions. Otherwise, you'll "eventually" get used to it and it probably won't be such a big deal anymore.