You're not supposed to let Curtis know they're on to him so no, you can't save the Monorail as far as I know. It won't matter in your game once you have access to the Strip, which you can get with a credit check or a forged pass from Ralph. Next game just don't go back to Curtis.
I don't know about telling him, not hearing the information he's passing along, killing him anyway, getting the deactivation code from his body and then running straight to the Monorail...never tried it...wonder if that will work...? Let us know, ok?