You can use a variable to keep track of where you are in the font size increasing and decreasing. Here's a revised version of your fiddle, and code:
(function ($) {
$.fn.fontResize = function(options){
var increaseCount = 0;
var self = this;
var changeFont = function(element, amount){
var baseFontSize = parseInt(element.css('font-size'), 10);
var baseLineHeight = parseInt(element.css('line-height'), 10);
element.css('font-size', (baseFontSize + amount) + 'px');
element.css('line-height', (baseLineHeight + amount) + 'px');
};
options.increaseBtn.on('click', function (e) {
e.preventDefault();
if(increaseCount === 3){ return; }
self.each(function(index, element){
changeFont($(element), 2);
});
increaseCount++;
});
options.decreaseBtn.on('click', function (e) {
e.preventDefault();
if(increaseCount === 0){ return; }
self.each(function(index, element){
changeFont($(element), -2);
});
increaseCount--;
});
}
})(jQuery);
$(function () {
$('body,h1,h2,h3,h4,h5,h6,p,ul,ol,a,input').fontResize({
increaseBtn: $('#incfont'),
decreaseBtn: $('#decfont')
});
});
I also made fontResize pass the buttons in during invocation, which makes more sense if you're trying to design this as a jQuery component. Also, since the logic to change font size is repeating code, I separated that into its own function, so you don't repeat yourself.
EDIT: whoops, skimped over the part that you wanted persistence as well! That's easy enough through localStorage. Clicky here.