Do not directly work your lovehandles until the fat is gone. If you do, you will push the fat further out with underlying muscle and it will show even more. Wait till the fat is gone by taking your supps, doing lotsa cardio, and dieting cleanly.
Abs: Hanging leg raises and crunches with legs up and resting on something such as a bench. You work the lower abs with the hanging leg raises, and your upper abs with the crunches. The reason put your legs up on a bench is because otherwise you are using your hips and muscles around your hips to bring up your torso.
Still, all that won't do jack unless you diet and cardio yourself to exhaustion. Hard to do without sacrificing some of your gains.