Lukic fears Wenger has his keeper priorities all wrong.
He explained to the Sunday Mirror: "There's an old saying that you don't win the championship with a bad goalie. I'm not saying Manuel Almunia is bad - but the really top keepers do win games for you.
"The game fans won't remember is the home match where the opposition got through once and the goalie made a critical save. That save affects the balance of the game, and could win the three points that make you champions.
Lukic went on: "The pursuit of a veteran like Schwarzer suggests that Arsene does still believe his long-term goalie will emerge from inside the club.
"He's looking for a short-term fix, with Lukasz Fabianski or Wojciech Szczesny eventually taking over.
"You have to be absolutely convinced that the youngster is good enough to do that.
"Given that Arsenal haven't won a trophy for five years do you really want to be working on a development programme?
"Personally, I'd look for a goalie in his late twenties with a proven track record and put him straight into the team.
"Pepe Reina at Liverpool is an interesting one. The dust hasn't settled at Anfield yet and he would be a great capture for Arsenal. He's in the right age group, knows the Premier League, and has a wealth of experience.
"Getting either of them may be a tall order, but you have to check out any potential availability and the status of their contracts.
"The key is for Arsenal to find the best man, get him in their team and nail the position down for years."