Massive Touch Lag on mobile devices?

Hi guys, I have this real problem with Touch Screen Lag on all the devices...

After a while of playing my game, the Touch sensing will suddenly lag greatly, resulting in me being unable to interact with the game properly. Strangely enough, the game still runs as smoothly as before... ---> Is there any way I can fix this Touch screen lag? Its a major problem in the game, and we can't get it out unless we solve this...

Also, when we export it to the iPad, it somehow lags alot more than on the iPhone or the Android... ---> Is there a reason for this? And is there a way we can fix it?

Please help me, its exceedingly important...

This is the code which makes the touch work by the way.

function iPhoneUpdate(){ // If there are any touching on the screen

 // Look for new touches
     for (var i:Number = 0; i < Input.touchCount; i++){
         var theTouch:Touch = Input.GetTouch(i);
         if (!touchEvents.Contains(theTouch.fingerId)){
             touchEvents.Add(theTouch.fingerId,new touchEvent(theTouch.position,theTouch.tapCount));
             var touchRay = mainCamera.ScreenPointToRay(theTouch.position);
             if (Physics.Raycast(touchRay,hit)){
                 if (hit.transform.tag == "Roach"){
                     var newTouchedObject:touchedObject = new touchedObject();
                     newTouchedObject.theObject = hit.transform.gameObject;
                     newTouchedObject.pointStarted = theTouch.position;
                     theTouchEvent = touchEvents[theTouch.fingerId];
                     theTouchEvent.theTouchedObject = newTouchedObject;
                 }
             }
         }
         else {
             theTouchEvent = touchEvents[theTouch.fingerId];
             theTouchEvent.checked = true;
             theTouchEvent.currentPosition = theTouch.position;
         }
     }
     
     
     textToWrite = "";
     
     // Update current touch events
     for (var theTouchID in touchEvents.Keys){
         
         var theTouchEvent:touchEvent = touchEvents[theTouchID];
         
         // If that touch has ended
         if (theTouchEvent.checked == false){
             
             
             
             // If anything was touched
             if (theTouchEvent.theTouchedObject){
                 
                 // Update last position
                 theTouchEvent.theTouchedObject.pointEnded = theTouchEvent.currentPosition;
             
                 // If the touch was very short
                 if (theTouchEvent.currentTime < tapTime){
                     // TOUCH PHASE WAS A TAP
                     NotificationCenter.DefaultCenter().PostNotification(theTouchEvent.theTouchedObject.theObject,"Squash",theTouchEvent);
                 
                 }
                 // If it wasn't short
                 else {
                     // TOUCH PHASE WAS A FLICK
                     NotificationCenter.DefaultCenter().PostNotification(theTouchEvent.theTouchedObject.theObject,"Flicked",theTouchEvent);

                 }
             }
             
             
         }
         
         // If that touch has not ended yet
         else{
             
             // For tracing
             //textToWrite += theTouchID +" : " + theTouchEvent.currentTime + "\n";
             
             // Increase timer for touch
             theTouchEvent.currentTime += Time.deltaTime;
             
             
             
         }
     }
     
     // Delete old touch events
     
     var newTouchEvents:Hashtable = touchEvents.Clone();
     
     for (var theTouchIDRemove in touchEvents.Keys){
         
         theTouchEvent = touchEvents[theTouchIDRemove];
         
         if (theTouchEvent.checked == false){
             newTouchEvents.Remove(theTouchIDRemove);
         }
         
     }
     
     touchEvents = newTouchEvents;
     
     
     for (var theTouchIDDirty in touchEvents.Keys){
         theTouchEvent = touchEvents[theTouchIDDirty];
         theTouchEvent.checked = false;
     }
     
     /*
     var theGUIText:GUIText = transform.GetComponent(GUIText);
     if (textToWrite != ""){
         theGUIText.text = textToWrite;
     }
     else {
         theGUIText.text = "Nothing here";
     }*/

}

P.S Strangely enough, on the Android, the game runs alot smoother at the start, but after around 5-10 minutes, the touch screen lag gets to such a terrible point I can't even play... On the iPhone3GS, it runs not as smooth, but takes around 10-15 minutes for the lag to be too terrible to play...

EDIT

Fixed up the code a bit, here it is.

 function iPhoneUpdate(){
 // If there are any touching on the screen
 
 // Look for new touches
     for (var i:Number = 0; i < Input.touchCount; i++){
         theTouch = Input.GetTouch(i);
         if (!touchEvents.Contains(theTouch.fingerId)){
             touchEvents.Add(theTouch.fingerId,new touchEvent(theTouch.position,theTouch.tapCount));
             touchRay = mainCamera.ScreenPointToRay(theTouch.position);
             if (Physics.Raycast(touchRay,hit)){
                 if (hit.transform.tag == "Roach"){
                     newTouchedObject = new touchedObject();
                     newTouchedObject.theObject = hit.transform.gameObject;
                     newTouchedObject.pointStarted = theTouch.position;
                     theTouchEvent = touchEvents[theTouch.fingerId];
                     theTouchEvent.theTouchedObject = newTouchedObject;
                 }
             }
         }
         else {
             theTouchEvent = touchEvents[theTouch.fingerId];
             theTouchEvent.checked = true;
             theTouchEvent.currentPosition = theTouch.position;
         }
     }
     
     
     textToWrite = "";
     
     // Update current touch events
     if (touchEvents.Count > 0){
         for (var theTouchID in touchEvents.Keys){
             
             theTouchEvent = touchEvents[theTouchID];
             
             // If that touch has ended
             if (theTouchEvent.checked == false){
                 
                 
                 
                 // If anything was touched
                 if (theTouchEvent.theTouchedObject){
                     
                     // Update last position
                     theTouchEvent.theTouchedObject.pointEnded = theTouchEvent.currentPosition;
                 
                     // If the touch was very short
                     if (theTouchEvent.currentTime < tapTime){
                         // TOUCH PHASE WAS A TAP
                         NotificationCenter.DefaultCenter().PostNotification(theTouchEvent.theTouchedObject.theObject,"Squash",theTouchEvent);
                     
                     }
                     // If it wasn't short
                     else {
                         // TOUCH PHASE WAS A FLICK
                         NotificationCenter.DefaultCenter().PostNotification(theTouchEvent.theTouchedObject.theObject,"Flicked",theTouchEvent);
 
                     }
                 }
                 
                 
             }
             
             // If that touch has not ended yet
             else{
                 
                 // For tracing
                 //textToWrite += theTouchID +" : " + theTouchEvent.currentTime + "\n";
                 
                 // Increase timer for touch
                 theTouchEvent.currentTime += Time.deltaTime;
                 
                 
                 
             }
         }
         
         // Delete old touch events
         
         newTouchEvents = new Hashtable();
         
         for (var theTouchIDRemove in touchEvents.Keys){
             
             theTouchEvent = touchEvents[theTouchIDRemove];
             
             if (theTouchEvent.checked == true){
                 theTouchEvent.checked = false;
                 newTouchEvents.Add(theTouchIDRemove,touchEvents[theTouchIDRemove]);
             }
             
         }
         
         touchEvents = newTouchEvents;
     }

}