Yes, you can trade torque for RPM using various kinds of gearing -- chains, belts, cogs, gearboxes, worm drives, ...
Each time you do this, there is some amount of losses, though, so it's almost always better to get the speed/torque conversion you need with the fewest possible steps.
You claim your motor draws too much current. Too much current for what? Get a motor controller and a battery that can drive the motor, or get a smaller motor that matches your controller and battery. Even with PWM to attempt to control the power output of the motor, the amp draw during the PWM "on" cycle will be too big if your controller and battery can't keep up.
You can also reduce the voltage. The amp draw is proportional to the voltage (so the power is square of the voltage, or square of the current draw.) Note that half voltage (and thus half current) will give you one-quarter the power for a given motor.