You may be able to accomplish what you are looking for by manually editting the file "lotro.keymap" in your "My Documents\The Lord of the Rings Online" folder and creating a custom meta-key setting. I haven't played with this file in over four years now so I'm not positive if the mouse wheel can even be configured from there, but that's your best chance.
As always, when editting a configuration file, make a back up copy of the original before making any changes so that you can reverse any unwanted results.
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