The problem with that is that with a variable width font, lines that contain the same numbers of characters can vary widely in length.
I had a few good examples at one time, but can't find them. The only real way to do a good break is to consider most characters to be 2's, m and w to be 3's and t,l,i to be 1's (stuff like that) and determine the length of the line based on "score". You'll not get truly even lines, but they will be much more even then if you do it any other way.
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