I use the protection bubble technique in my dreams! I was taught to do this while learning hypno-therapy...and it reeeally works. It's quite amazing. I've used it only a couple of times when I am in scary situations within a dream (my only scary dreams are the pre-cursors to OBE's where you just feel freaky!!!)...as soon as I thought about protecting myself with my coloured bubble, I was instantly removed from the awful feeling and transported - on quite an adventure!!
Anyway, in this situation I really feel that I am in need more of 'clearing' than 'protection' - that's just me.
If you are every in a fearful situation in a dream you should try the protective bubble technique...imagine, beforehand a colour that makes you feel loved - maybe it is the colour of someone who loves you unconditionally, that sort of thing...or just a colour that makes you feel protected. Visualize it. Let it go...and tell yourself that whenever you're in a dream that brings you fear, you can call on this protective ____(colour) bubble and the fear and situation will dissolve.