This has nothing to do with Calvinism, just so you know.
The concept of retribution is that the evildoer should be deprived of happiness to in proportion to the wrongfulness or harmfulness of the act. The proportionality objection to hell would not be that a certain amount of time passing is going to take the guilt away, but rather that no action is infinitely bad or infinitely harmful, and so the proporitionality requirement can be met in a finite length of time, and the eternity of hell isn't necessary.
It doesn't imply that guilt diminises with time, it just says that after a certain amount of happiness is deprived from the wrongdoer, the punishment can end, because the crime has been paid for. So the reasoning in the Polanski case doesn't apply here.
There are two standard responses to it. One if that in the case of sin, the offended party is God, and therefore sin, (unlike crime) can and always does deserve an infinite punishment. That seemed more plausible back when people were thought of as standing on different levels of the Great Chain of Being, and a crime against a nobleman was thought more heinous than a crime against a commoner, for that reason only.
The other response is to say that the damned are unrepentant sinners who continuously reoffend. I think that is surely the more plausible response, but this has little to do with the reasoning in the Polanski case.
What is more, there is a statute of limitations for many crimes, but no statute for the most heinous crimes. But hell, presumably, is for sinners of every type, and Protestants at least reject the idea that some sins are "venial" and do not threaten a person's salvation.
So I don't think that this is the right way to meet the proportionality objection to the doctrine of everlasting punishment.