DISEASE CHARACTERISTICS:

• Cytologically or histologically proven advanced non-small cell lung cancer (NSCLC), breast cancer, or other solid tumors (phase I)

  • Evaluable disease (i.e., bone metastases, pleural fluid, ascites) allowed

• Cytologically or histologically proven NSCLC, meeting all of the following criteria (phase II):

  • Stage IIIB (pleural effusion) or IV disease

    • NSCLC that has progressed or recurred after first-line therapy for stage IIIA or IIIB disease allowed
  • Progressed or recurred after prior platinum-based therapy
  • Stable disease as best response to first-line therapy allowed

  • Must have measurable disease by RECIST criteria

    • Disease in previously irradiated sites is considered measurable if there is clear disease progression after radiotherapy
• No third space fluid which cannot be controlled by drainage
• Patients with asymptomatic treated brain metastasis (surgical resection or radiotherapy) are eligible provided they are neurologically stable and have been off steroids and anticonvulsants for at least 4 weeks
• Hormone receptor status not specified

PATIENT CHARACTERISTICS:

• Male or female
• Menopausal status not specified
• Zubrod performance status (PS) 0-2 (phase I) or 0-1 (phase II)
• Life expectancy ≥ 3 months
• Creatinine clearance ≥ 45 mL/min
• AST and ALT < 2.5 times upper limit of normal
• Bilirubin normal
• Platelet count ≥ 100,000/mm³
• ANC ≥ 1,500/mm³
• Must be able to take and retain oral medication
• Must be able to take folic acid, vitamin B12, and dexamethasone
• Not pregnant or nursing
• Negative pregnancy test
• Fertile patients must use effective contraception during and for 3 months after completion of study treatment
• No preexisting peripheral neuropathy ≥ grade 2
• No other active malignancy
• No other clinically significant illness
• No other serious medical or psychiatric illness, including serious active infection
• No history of allergy or hypersensitivity to paclitaxel albumin-stabilized nanoparticle formulation, pemetrexed disodium, or a taxane
• No serious medical risk factors involving any of the major organ systems such that the investigator considers it unsafe for the patient to receive an experimental research drug

PRIOR CONCURRENT THERAPY:

• See Disease Characteristics
• Recovered from all prior therapy
• No NSAIDS for 2 days before (5 days for long acting NSAIDS), during, and for 2 days after pemetrexed disodium
• At least 2 weeks since prior radiotherapy
• At least 4 weeks since prior chemotherapy
• Any number of prior chemotherapy regimens allowed (phase I)

• No more than 2 prior chemotherapy regimens for advanced NSCLC (phase II)

  • Patients with recurrent stage III disease may have had ≤ 2 prior treatments (including primary therapy, adjuvant therapy, or concurrent chemoradiotherapy)
• No prior paclitaxel
• No prior paclitaxel albumin-stabilized nanoparticle formulation
• No prior pemetrexed disodium
• No other concurrent chemotherapy, biologic therapy, or targeted therapies
• No other concurrent anticancer or investigational therapy
• No concurrent radiotherapy
• No concurrent enrollment in another clinical study in which investigational procedures are performed or investigational therapies are administered