The smart way to do this is to use a step-down converter that takes the full battery voltage and converts it to current controlled lower voltage. Then the current limited voltage can be applied directly to high power LEDs connected in series. Most Step-down converters handle only 40V input, but some handles up to 60V and a few handles 100V. It is normal to limit the current to 350mA to supply 1W LEDs.
www.ebikes.ca sells ebike LED lights with integral step-down converters that can run on an input voltage between 24 to 90 volts.
If you want to make such step-down converter yourself you can start by examining the LM 5008 and LM 5009 ICs from National Semiconductor. Those ICs plus a few capacitors and a coil are perfect for 150 and 350 mA LEDs.