OP you need to take the weave out PRONTO as has been said and let your scalp rest (heal). Aloe vera gel may soothe. I do not like steroids so I'd not use a cortisone cream. They are habit forming and IMO just are no good in the long run, and never truly heal. Just sort of cover up a problem till the next time.
Please do not take this lightly. Traction alopecia is the baldness that results from tight braiding and NO ONE SHOULD EVER SIT THROUGH A SESSION OF BRAIDING that ends up looking like that. Braiding should be so gentle that a 2-year old baby could go to sleep having her hair braided otherwise it should not happen at all.
The longer you leave that weave in, the more likely the condition could become longlasting and permanent baldness could result. So take them out and do so with a quickness. The bumps may dry out on their own, but aloe vera will soothe and may stop the itching. Tea tree oil (antibacterial/antifungal), lavender essential oil, rosemary essential oil--a drop of each in jojoba oil--may be also help soothe and prevent infection. Otherwise, just keep your scalp clean. Maybe a dilute vinegar rinse may help too.
Please never sit through pain again. You may have a high tolerance for it, but for your scalp to look like that, the one who braided your hair was lousy at her job and was pulling way too hard. Next time make sure your stylist braids children and none of them cry or cringe once during the experience.
I think I need to lie down.