While Vaser can help de-bulk your arms of subcutaneous fat, you seem to have a lot of loose skin. This will only get worse with liposuction whether vaser, smartlipo, pal, or traditional is used. You probably are better off with an skin excisional procedure either after you lose weight or you debulk the arms with liposuction first. If you only do liposuction, you will not be happy with the hanging skin.
Unfortunately, you have far too much extra skin on your arms to benefit from any liposuction technique. No technology, vaser, laser, smart etc will make your skin shrink better than mother nature and you have too much skin already. You need an arm lift in my opinion but would have the best result if you lost some weight first. Good luck!