Pierce the center of large flat bumps with a thin sewing needle, one designed for sewing by hand. Press the bump gently with the flat of your hand, going from the outside edges to the hole. This may flatten the bump or remove it entirely. If you are pleased with the result, you will not need to repaint.
Use a straightedge razor blade to scrape off small bumps. Hold the blade with the sharp edge resting on the surface of the paint. Start beyond the bump and keep the sharp edge level with the surface as you scrape. Scrape with the grain on a wooden surface. This will remove both embedded dirt and the raised paint on the edges of air bubbles. If a light scrapping is all that is required, you may not have to repaint.
Lightly sand any raised areas with fine, wet-dry sandpaper.
Paint over the repair with flat acrylic latex paint, if necessary. Use flat paint as a first coat when repainting either flat or glossy paint. Add a second coat of glossy paint to match glossy surfaces.