Hi Becki,
You ask a very popular question. Losing the weight alone does not always tighten up the area you are talking about. Losing weight will help, but you need to build new lean muscle mass in the area to tighten it. You should be engaging in strength training exercises that target your triceps to help achieve the look you desire. Movements like dips, tricep extentions, kickbacks, etc. will help. If you're not familiar with these exercises, the alli site does offer video demonstrations on how to perform them. Give them a shot and let me know how it works for you.
Good Luck,
Paul