I've had some ARFs that are bad...but I think you "win." If you use a heat gun set it fairly high (mine will catch paper on fire if I leave it for a second.) You need to start from the center of a panel and "push" the bubbles out to the tips. Work in parallel with the wrinkles. Start at one end and run your heat gun up the entire wrinkle until it goes away. Then go back to the center of the panel and do it for the next wrinkle. After I get them mostly out with the heat gun I then go to the iron and make sure all the film is reattached to the surface, this also helps to get any small wrinkles out or winkles that reformed.

My 90 sized extra was pretty bad (about 75% of what yours is like), and to do the entire plane to a wrinkle free finish took me about 3 hours. I've been flying it since Christmas and they haven't come back.

Jared