Although fragments of some of the scripts that he wrote in 1944 have survived, Altolaguirre did not start working in films until 1946, when he was hired as a scriptwriter for the production company Panamerican Film.  He collaborated on an adaptation of La casa de la Troya, which was released in 1947. He also wrote the screenplay, El rufián dichoso, a tribute to commemorate the 500th anniversary of Cervantes’ birth. His adventure with the Panamerican Film was short lived; the company went bankrupt a year later after it was founded. Altolaguirre then began to travel with his film projector showing movies throughout Mexico, accompanied sometimes by Concha Méndez, and their daughter, Paloma.

After his reconciliation with Gómez Mena, Altolaguirre returned to work in film and not just as a screenwriter. In early 1950, the couple founded Producciones Isla, a film company whose first movies included Yo quiero ser tonta (1950), Doña Clarines (1951), El puerto de los siete vicios (1952), Subida al cielo (1952), Prisionera del recuerdo (1952), Misericordia (1953), and Legítima defensa (1957).  Eduardo Ugarte was the director and Egon Eis the screenwriter of several of these films.

Subida al cielo was Producciones Isla’s most successful film.
Luis Buñuel was the director and Altolaguirre wrote the original script. The writer Juan de la Cabada adapted the dialogue to the Mexican context. The film competed at Cannes in the summer of 1952 and was honored in Paris with the Critics Award. In Mexico, Altolaguirre received the Ariel award for best screenplay.

During the two years that Altolaguirre and Gómez Mena lived in Cuba (1953-1955), they produced three films: Los inmigrantes, Golpe de suerte, and Cuando baila Trinidad (Leyenda musical de Cuba); the reels of these films, unfortunately, have not survived.  Back in Mexico, Altolaguirre’s last major film project was his adaptation of Fray Luis de León commentary of Song of Songs.  He was both screenwriter and director of the film, revealing the deep religious concerns that he felt during that stage of his life. 

In July of 1959, a first version of the film was shown, out of competition, at the San Sebastián Film Festival and it was a success.  On July 23, on route to Madrid, Altolaguirre and Gómez Mena’s car overturned outside Cubo de Bureba, a village near Burgos. She was killed on the spot; Altolaguirre died in a hospital three days later. They were buried in the Sacramental de San Justo cemetery, in Madrid.