I am having trouble with maintaining stroke width while resizing it. I reduced the size of the element but stroke is still the same and wide. Where do I find the option to change it?
You can convert the layer to Smart Object by Right-Click on the layer from the Layer Panel and choose Convert to Smart Object. Now, You can scale the layer and it's effects with editing the original layer by double click it to open it as Smart Object.
You can use the Scale Effects command: Layers >> Layer Style >> Scale Effects