When you loose your mask, you are lost. Because there is no method how to check your gauges, timer, and other important things properly. The best way how to prevent it is to have a backup mask in your pocket. Then learn how to quickly switch your masks and this will save you. The second way is your buddy must help you and guide you quickly to the surface. But in this case, it is still fine to have 2 masks along.
You aren't lost, trap an air bubble with your hand at your forehead and read your gauge.