One consideration would be some kind of genital wart - which can present as small bumps. Other possibilities would be herpes or any variety of genital ulcers (i.e. chancroid, syphillis etc.). Without seeing the lesion, it is impossible to tell. There are a variety of diagnostic tests to shed more light into this.
The tingling penile sensation warrants further investigation - including a urinalysis to evaluate for bacterial infection and a GenProbe, looking for chlamydia or gonorrhea. Testing or examining your prostate would also be a prudent idea.
I would suggest a referral to a urologist for further evaluation.
Followup with your personal physician is essential.
This answer is not intended as and does not substitute for medical advice - the information presented is for patient education only. Please see your personal physician for further evaluation of your individual case.
Thanks,
Kevin, M.D.