Gloves +1 +2 +3
Body armour +1 +2 +4
Instead of +14 armour on a lordly set, you'll rather get +7. A lot more balanced, I would say.
Yeah, armor looms are most op thing in crpg, nowdays.
But your solution, bring a lot of whine from people with already all armor heirloomed and more importent +7 body armor are not worth of 6 gen retiring.
Fortunately i have ultimate solution.
Body armor stay with actual heirllooms values and gloves heirlooms will be cancelled.
So you can get +7 in 3 gen, still quite good and all people with already heirloomed gloves got their heirloom points back.
No more super fast tincans with +14 armor.