Python textwarp each line and paragraphs
<p>I need to textwrap each line that is longer than 80 characters and break up long paragraphs into 80 characters chunks. There is a \n at the end of each line and paragraph.</p>

<pre><code>This is the first line of text with more than eighty characters in this sentence.**\n**  
**\n**  
This line of text is less than eighty characters.**\n**  
**\n**  
This is the first sentence of the first paragraph. This is the second sentence of the first paragraph. This is the third sentence of the first paragraph. This is the fourth sentence of the first paragraph. This is the fifth sentence of the first paragraph.**\n**  
**\n**  
This is the first sentence of the second paragraph. This is the second sentence of the second paragraph. This is the third sentence of the second paragraph. This is the fourth sentence of the second paragraph.**\n**    
</code></pre>

<p>I need the output to look like this:</p>

<pre><code>This is the very first line of text with more than eighty characters in this **\n**  
sentence.**\n**  
**\n**  
This line of text is less than eighty characters.**\n**  
**\n**  
This is the first sentence of the first paragraph. This is the second sentence **\n**  
of the first paragraph. This is the third sentence of the first paragraph. This **\n**  
is the fourth sentence of the first paragraph. This is the fifth sentence of the **\n**  
first paragraph.**\n**  
**\n**  
This is the first sentence of the second paragraph. This is the second sentence **\n**  
of the second paragraph. This is the third sentence of the second paragraph. This **\n**  
is the fourth sentence of the second paragraph.**\n**  
</code></pre>
