I'd be inclined to agree with Fickla, it might be a kind of OCD behavior. Try to redirect or play with her when she starts it, maybe give her a special chew or stuffed kong she only gets when you notice her starting to lick, so hopefully she'll get out of the habit, get her mind off the licking. Try to be really consistent so you can (hopefully) break that habit while she's young, so it doesn't get too out of control.
And Tigerlily, my Alfie is a "lotion-licker" too :dogtongue2: Geez, handlotion, lotion after a shower, heck, the boy loves his lotion!!!