I am not sure what you mean since there is no dermatologic condition called sebaceous bumps that I am aware of. I am assuming you mean the erroneously termed sebaceous cysts. I say erroneous since their contents are made of keratin and not sebum, and sebaceous glands have nothing to do with their origin and, in fact, are not even present. There are plenty of terms instead which will fit including epidermal inclusion cyst, infundibular cyst, keratinaceous cyst or even "wen" which while a layman term is at least not a misnomer.
If you do mean a "sebaceous cyst" surgery is the best means of treatment. My suggestion would be to consult someone who is very experienced in their removal: either a plastic surgeon or dermatologist. These unsightly lesions can be excised through a rather small excision. Do not manipulate or squeeze them. They are prone to rupture, creating a cosmetic mess. This brings up another misconception regarding their nature. When they rupture many people, including some physicians, think they are infected. They usully are not. The contents as mentioned above consist of keratin. When outside the follicle, keratin can act like a foreign body. Thus, what you are seeing when they rupture is a massive foreign body and not a true infection.
Injecting these lesions with steroids may also work. However, each injection can cause fibrosis or scarring making it more difficult to perform the excsion.