Sorry for the pile on, Mr. Bond, but yeah, everyone is right. Latex mask is just pointless for what is essentially just make-up (the same thing drove me nuts with people wearing big rubber KISS masks.... made no sense).
Make up is totally the way to go. But don't let the 90 minute estimate deter you. It really is dependent on 2 things: how skillful you are and if you have an assistant. When I did Maul (3 weeks before Phantom Menace came out) I had never tried it, but it only took me 30 minutes, but I have had a lot of experience with make-up, and I had an assistant for the top of my head. Often, you can do one side great and really struggle with the other side to keep symmetrical. If you have a problem with that, a good friend with a steady hand is extremely helpful. I think with one test round, you can really cut your time down to a manageable 45-60 minutes, even if you have no experience.
The other trick is to do your face red first, set it with a bit of powder to dry, then use a good liquid black make-up and a decent brush with a nice flat edge (I'd suggest a 1/4 inch wide flat tip).
Try it out, you'll probably love it. Also, a goo bald cap will really keep to your skull and I found that with the extreme contrast of the red/black pattern, it camouflages the transition seam edge of the cap really well and you probably won't even need liquid latex to cover it.