I believe that it is possible to compress laser vector data that is in the wave format, but not with any of the established lossy compression technologies.
Probably the best way to do it would be to strip out all of the vertices that are not absolutely necessary to depict the art and then bit reduce the resolution of what is left, just to the point before it makes a noticeable effect on the quality of the image. Then, a lossless technology like zip could be applied to that information before it gets sent out over a wire. That way, everything about the art can be fully recovered at the other end.
James.