There was a conversation about this not long ago -- someone looking for a denim jacket that would flatter a larger bust. You might check the archives. Various people weighed in, with many saying that they wore the classic one despite having a larger bust and it seemed to work for them -- the trick being to wear it open and to get the proportions right. I do think that if you have a large bust, the extra crisp fabric of denim might be a sticking point, so if you could find one that is softer (or wash it a lot) that might help?
I don't know that cropped is necessarily better, but I would assume if you want to wear with skirts and dresses, it could be. I'm your height but have the opposite bust issues, LOL. However, I am also short-waisted. I find that so-called cropped jackets usually hit me at my true waist, and since there is not a lot of real estate above that on me, that's just as well.
I've also had luck in the kids' department of Old Navy. Seriously. If you don't plan to wear your jacket closed then you might, too.