I had the same problem, sharp pain in the forearm [ulnar].
What works best is maybe pausing, but who wants to take a break from lifting for several weeks or even months.
I went up with the reps [12 instead of 6-8] and went down with the weights.
Concentration curls, close grip pull downs or chins worked best for me.
At least a friend of mine recommended to use Biofreeze. I bought the roll-on and I dont say that it was the reason the pain went away, but it was a great relief to me. After 8 weeks it was getting better and after week 12 the pain was gone.
If you are interested :
http://biofreeze.com/Default.aspxOn their site you can get free samples
[Biofreeze products are classified as topical analgesics, which work through a ‘counter irritant’ mechanism. This means that the menthol in Biofreeze creates a sensation that overrides pain signals to the brain. This process is known as ‘Gate Control Theory’, where nerve impulses from one stimulus block the nerves containing pain signals to the brain. Recent research also suggests that menthol may stimulate cold receptors in the skin that may help regulate pain as well.]