Hi Vik - When I decided to cut down on nicotine, I didn't really want to mess with DIY. I found Geoff at Tasty Vapor. He sells a zero nicotine liquid called a Doubler and then sells a high nicotine matching e-liquid to go with it, so you can mix your own strength. I find it pretty great, since I can make a bottle of say 18mg and the same flavor in 6mg for when I don't want much nicotine and just want to vape away. His prices are incredible for what you get (the Doubler ($12) is 4oz - 120.4ml!) and the nicotine liquid is available in 12mg, 24mg, 36mg and 48mg 36mg or 45mg (your choice) 30ml for $15.
Incredible flavors. You can even combine up to 3 flavors and make up your own. I have tried several and highly recommend his products. I've even added to a Chocolate Doubler some of my own purchased flavorings to play with making my own flavors (but would rather just buy Geoff's pre-mixed for me!).
http://www.tastyvapor.us/Doublers.htm