Hi Brandon, Welcome to HealthcareMagic Forum.
Do you have any bend in your skin? You are having Peyronie's disease which may manifest a Lump in the shaft of penis. Cancer within the penile shaft is very rare. You should be getting yourself examined by a Urologist
to rule out the exact cause as there are various causes for this, like heredity, trauma, Hypertension
. There are various treatment options for this like Extracorporeal shockwave therapy, Medications and various other surgical Procedure. Your Doctor may decide upon which treatment suits you once it is confirmed, after examining you.
Wish you Good Health.