This is not the sort of thing to do 'on a budget'. My best advice would be to darken the studio and increase your ISO. This will allow you to use a lower power setting on the strobe which always gives a shorter duration.
I'd also try shooting with bare heads or spotted lights to get more output....you're probably just better off renting a good Broncolor pack for a day from a rental house or photographer.
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i discussed this with a few watersplash type photographers. i do a bit of action photograhy, so i was looking for fast duration as well.
broncolor grafit, followed by pro7 1200 packs are the fastest (although, they list their powers slighly differently, and i found a spec shown on the web that had a faster rate for profoto). both of them are bloody expensive though.
but apparently the new bowens power packs have a very fast duration at a very resonable price.
paul