Yes this is based off another thread that mentioned several methods to get lovely charms quickly, but this is by far the fastest. The purpose of this thread is to specify it and explain it in a little more detail.
-Ulduar iron dwarves-
1. Invite a friend and make a raid group
2. Enter Ulduar and speak to Brann Bronzebeard near the exit of the shield.
3. Enter a motorbike and proceed to pull as many of the dwarves as you can, avoiding copters and giants
4. When you got a LOT (and a LOT of inventory space as the Lovely Charms only stack to 10) just wait for them to approach you and use your Sonic Horn to kill them quickly
5. Profit! An average of 1 out of 3 (in the worst case) of the dwarves drops a charm and there are TONS of them, not to mention they respawn very quickly from the towers.