Don't think that's what ZOS had in mind when they added this function.
Shortening the URL is unlikely to happen, since they want the user to be able to inspect what is being opened. Maybe they can change the dialog to add a scrollbar though.
You could also look into making your format more efficient so the links become shorter. Is Base64 encoding really needed for example? It will make your url longer than it needs to be when you don't use binary data.