A ground effect sailboat would probably be as fast as an ice boat since it
isn't in the water.

The problems I see are heeling and generating lift to get out of the water.

Perhaps a combination of hydrofoils and wing would do the trick. The
hydrofoils would allow great sped for the wing to lift.

Add a lifting wing to this:

http://www.sailingbreezes.com/Sailin...redefining.htm

I think it would be beneficial to have the lifting wing at the top of the
mast for more stability during flight.