The attached illustration depicts the current condition of my wall. The plaster and the lathe is currently removed from the wall.
What I'm thinking of doing is spraying 1/2 to 1 inch of closed-cell foam along the inside of the stud and on top of the sheathing, which will serve as a vapor barrier. The remaining space will be filled with fiberglass insulation, and topped by 5/8-inch of drywall and latex paint.
Another option would be to spray low-density insulation between the brick and wood sheathing by drilling holes in the sheathing.