Carboplatin With Either Paclitaxel Poliglumex or Paclitaxel in Treating Women With Stage IIIB, Stage IV, or Recurrent Non-Small Cell Lung Cancer

DISEASE CHARACTERISTICS: * Histologically or cytologically confirmed diagnosis of non-small cell lung cancer (NSCLC) * Cytologic specimens obtained by brushings, washings, or needle aspiration of a defined lesion or from a pleural effusion are acceptable; sputum cytology alone is not acceptable for determining cell type * Must meet one of the following criteria: * Recurrent disease following completion of radiation or surgery * Stage IIIB disease and not a candidate for combined modality therapy (primary radiation therapy or surgery) * Stage IV disease * Patients may have either measurable or nonmeasurable disease according to RECIST criteria * Baseline estradiol \> 30 pg/mL * Patients on hormone replacement therapy are eligible provided baseline estradiol \> 30 pg/mL * Patients with known brain metastases must have received standard antitumor treatment (e.g. whole brain radiation, stereotactic radioablation, or surgery) for their CNS metastases as defined by the site's institutional standards * Neurologic function must have been stable for 2 weeks before randomization and patients must either be off steroid therapy for their brain metastases or on a tapering regimen * Patients must have recovered from therapy for their brain metastases with no evidence of significant unstable neurological symptoms within the 4 weeks before study randomization * No evidence of small cell carcinoma, carcinoid, or mixed small cell/non-small cell histology PATIENT CHARACTERISTICS: * Female * ECOG performance score 0-2 * Life expectancy ≥ 12 weeks * Absolute neutrophil count ≥ 1,500/mm³ * Platelet count ≥ 100,000/mm³ * Hemoglobin ≥ 10 g/dL (may be achieved with transfusion) * Creatinine ≤ 1.5 times upper limit of normal (ULN) * Total bilirubin ≤ 1.5 times ULN (CTC grade 1) (patients with Gilbert syndrome or other hereditary bilirubin defects may be included regardless of bilirubin levels) * SGOT and SGPT ≤ 2.5 times ULN (CTC grade 0 or 1) (5 times ULN \[CTC grade 0 to 2\] if due to liver metastases) * Alkaline phosphatase ≤ 2.5 times ULN except for elevated alkaline phosphatase with laboratory documentation that demonstrates bone origin * No pregnant women or nursing mothers * Negative pregnancy test * Fertile patients must use effective contraception during and for 6 months after study participation * No known hypersensitivity to study drugs or excipients * Meets all of the following criteria: * No weight loss \> 10% in previous 6 months * Lactate dehydrogenase (LDH) ≤ 600 IU/L (central laboratory) regardless of weight loss * LDH ≤ 400 IU/L (central laboratory) and no weight loss ≥ 5% in previous 6 months * BMI ≤ 35 * No concurrent primary malignancies except for carcinoma in situ or non-melanoma skin cancer * No neuropathy grade 2 or greater * No clinically significant active infection for which active therapy is underway * No unstable medical conditions including unstable angina or myocardial infarction within the past 6 months * Patients with evidence of cardiac conduction abnormalities are eligible if their cardiac status is stable * No circumstance that would preclude completion of the study or the required follow-up PRIOR CONCURRENT THERAPY: * See Disease Characteristics * Recovered from major surgery * At least 7 days since prior local palliative radiotherapy * At least 30 days since prior radiation therapy with curative intent * At least 4 weeks since prior investigational therapy, unless local requirements are more stringent * No prior systemic chemotherapy for the treatment of lung cancer, including systemic radiosensitizers used to treat brain metastases or any biologic agents * No concurrent non-protocol-specified systemic antitumor therapy * No concurrent amifostine, investigational agents, other cytotoxic agents for this disease * No concurrent radiotherapy (with the exception of radiotherapy for brain or bone metastases for palliative purposes or radiotherapy for a condition other than NSCLC that was ongoing at the time of randomization) * Patients receiving palliative radiotherapy (treatment for symptomatic metastatic disease) may be treated while on study