The exercise is as follows:
Let $\kappa$ be a limit cardinal, and let $\lambda < cf (\kappa)$ be a regular infinite cardinal. Show that there is an increasing sequence $\langle \alpha_{\nu} \mid \nu < cf (\kappa)\rangle$ of cardinals such that $\lim_{\nu \to cf(\kappa)} \alpha_{\nu} = \kappa$ and $cf(\alpha_{\nu}) = \lambda$ for all $\nu$.
Hrbacek and Jech in fact write "$\lambda < \kappa$" instead of "$\lambda < cf (\kappa)$", but there is a counterexample for this (as shown in Hrbacek and Jech, sequence with uniform cofinality, ch 9 exercise 2.6), so I take it to be a typo.
I can show that there is an increasing sequence of infinite cardinals cofinal in $\kappa$ and with the length of the sequence being $cf(\kappa)$. A sequence of cardinals $\langle \lambda, \aleph_{\lambda}, \aleph_{\aleph_{\lambda}}, \dots \rangle$ of cofinality $\lambda$ can also be obtained from the facts that $cf(\lambda) = \lambda$ and $cf(\aleph_{\lambda}) = cf(\lambda)$, since $\lambda$ is an infinite cardinal and hence a limit ordinal. Can these be reasonably combined to get the desired result? If not, I have no idea how to proceed and would appreciate a hint (not a complete solution, please).
Note that if $\mu<\kappa$, then $\mu^{+\lambda}<\kappa$, since any cardinal between $\mu$ and $\mu^{+\lambda}$ is either a successor or has cofinality of at most $\lambda$.
Pick any cofinal sequence, and apply the above observation.
(You were vaguely on the right path, but $\lambda\mapsto\aleph_\lambda$ is a function that jumps over way too many cardinals, way too fast. So it's not going to work in all cases.)