In practical terms camera measurement may be very inaccurate. The velocity change may poorly depend on drag. It depends on which sort of ball you use.
To model the situation I use the following ode (free fall with friction equation for unit mass in SI units):
$$ \ddot{x} = -9.8 - k\dot{x} $$
with $x(0)=0, x'(0)=10$
The first term is supposed to be earth's acceleration. The I look for a "time of return" $T$ and check value of $x'(T)$. I find that as soon as the value of $k$ exceeds 5, the dependence of terminal velocity on $k$ is relatively weak (and the measurement is inaccurate). Measuring with camera forces you to use relatively large speeds (try using 5 consecutive frames and using some sort of interpolation, 5 point stencil, high order differential scheme - this should help SIGNIFICANTLY with accuracy) which brings you closer to saturation of terminal velocity.
In practical term the answer to feasibility question depends on $k/m$ ratio and I think it is doable provided you do not let your ball close to terminal in a free fall (I would throw the ball not too high and use high fps camera - such as new Nikons... the capture 1200 fps).