It is possible to change the axle, but formula axles have a certain diameter and spacing design to fit the cartridge bearings. There's nothing you can change with a different axle. It seems like the only thing you could do is get super-thin cone and lock nuts, but I doubt that would get you down to 110mm. It looks like there is a 1mm spacer on each side, so you could just take those out and stretch your frame, I suppose.

Picture for reference: