Vaseline isn't dangerous to an aquarium in small amounts, in fact you can eat it, it was originally sold as a dietary supplement. The only danger is blocking oxygen exchange from a massive amount being used.
I would not use vaseline for this purpose. The way to correct this is to first reduce the microbubbles present, there is no solution that will work for a high level of microbubbles. Then, rinse the sensor in warm soapy water to help reduce the hydrophobic properties of the plastic. Vaseline is hydrophobic so theoretically it would actually make the problem worse.