Steve,
I live in Costa Mesa. Without traffic, you can look at around 4.5 hours to get up to Lone Pine. However, with traffic on O.C. and L.A., I'm afraid that you'd be hard pressed to make it to Lone Pine by 10 p.m. If there's any way you can blow out of O.C. closer to 3 p.m. or even 4 p.m., at least you'd have a fighting chance.
Good luck!
L