I've not heard of anyone doing this, it's certainly not your everyday "edit xorg.conf"...
Consoles are supposed to be 80 characters wide, so if you were to change the resolution, either you'd end up with a clipped display, or the console would be wider than standard (which may or may not break lots of things). That said, there's probably some hack-y way to do it (heck, you can even jump into the kernel source if you really want), but I wouldn't know how.
Unless you've got a better reason than "the fonts are big", it's probably going to be more trouble than it's worth, though...