2" lip isn't that bad at 15 mph with a 150lbs rider. Course the average 24h stock wheel is not very strong. I'd inspect the rim for any "flat spot" and crack if you have to crank the spoke by 5 turns.

It is possible to correct a 5mm wobble by turning one spoke 5x, but this will place a lot of stress on that spoke. Unless the rim is defective, a good wheel builder should be able to correct this problem by moving a few spokes less than one turn.