Yes, you can take off the top two feet...or more...or less.
Air layering typically takes 6 to 8 weeks, so I don't think that is an option for you. If you really want to know more about it, send me your email address in a Private Message and I will send you my article on propagation.
With the two foot (or more) top cutting, remove all of the lower leaves until only 2 - 4 are left at the top. Then reduce the bare portion of the stem to about 6 inches. Place the remaining cutting in a small pot filled with a porous potting mix. Keep it damp and in moderately bright light. With a little luck it will root and you will have a new rubber
plant.