You can regulate the voltage or you can regulate the current but not both at the same time. The load resistance and supply voltage across it determine the current. If the load resistance is fixed then the voltage determines the current in it. You can reduce the current by reducing the voltage or increasing the load resistance.
Most loads draw only as much current as they need. You can use an LM338 adjustable voltage regualtor IC set to 2.6V. Its max output current is 5A. Its input can be 5V or a little more.
A resistor in series with a load reduces the voltage and reduces the current. A resistor that is parallel with a load does not affect the load but increases the current from the power supply.