Personally, I've often started with luminosity masks for this - but I often find that even those masks require manual tweaking, and often make choices I don't want, or have edges I don't want. Depending on the nature of the image, I'll try the luminosity masks as you're doing, but I do LOTS of hand masking/unmasking as well.
They made a lot of improvements to the dodge and burn tools, but they're still intended for destructive layer work - can't do it on a duplicate layer
Another old-school method that I often use is to make a New Layer (but when using the New Layer icon, hold Option/Alt. It brings up a dialog box, on which, in the bottom, I change the blend mode to Soft Light or Overlay (depending on the strength of effect you want - you can always change it later to test between the 2. I keep my opacity at 100% while creating and tweak that later as well. When choosing either of these blend modes, I get the option to fill with the "neutral color" - 50% gray, which is invisible in Soft Light and Overlay - unless you paint with white or black or variations of gray on it - then it acts like a NON-destructive dodge/burn. Using this method, I find make lots of them, with varying levels of opacity (changed through the layers panel) and with varying options - like one for highlights, one for shadows, one for objects I just want to bring out a little, etc...
Hope that helps.