I looked for a plugin that truncates text and adds a (more) link to it based on container height not char limit of text. I couldn't find one.
Looks like ill have to write one myself. The question need to answer is:
Based on the width of a div, and a given height, how much text will fit in there (using font style of that div)?
So far this looks like a promising lead: https://developer.mozilla.org/en-US/docs/DOM/element.getClientRects