Aggregate scoring system works well if the teams play each other twice in a season. That is "if" a tie breaker is needed at seasons end to declare a winner or for playoff bracketing. There are deeper parts to aggregate as well, away goals, differentials all that stuff. No OT needed and no Pks.
The PKs do not need to take so long. I believe at the start of second OT the coaches should be ready with the five takers. The first Pk can be taken in one minute and the last in 5 minutes elapsed time. I usually know my five before the match. I have seen the first Pk take up to 10 minutes to start. This is where the time wasting is found.
And yes aggregate has been proven to stall global warming.
My vote playing time can be 40 a half. Just put the rules in to speed the restarts and find the best way to finish.