A good idea but I'm not yet ready for this kind of technic
Actually it's quite simple and the two first GLSL examples/tutorials you find will handle lighting and normal mapping. To create a normal map, just use gimp and search for the normal mapping plugin. Load in the sprite and apply it. You can play around with the emboss filter, contrast before generating the normal map to improve the results.
For the fake reflection, you can take the normals and the eye-vector to create some reflection vector to look up pixels in your background or foreground layer to mix into the color of the sprite pixel. Also calculate some kind of ambient color from the sun and overall environment theme and mix it in, too.
I would say in the worst case you need two weeks for this and the result should be great. And once you have started with shaders, think about bloom, too