You can make a simple contrast reduction mask using a black and white panchromatic film like Kodak TMX. The approach would be just like making one for a black and white negative, and a single mask would do the trick. I suggest you adjust the enlarger filtration for the best print you can get before you make the mask, and then use that filter setting to make the mask. If the mask winds up favoring certain colors, you can then make corrections and make another mask.
If you need to make color correcting masks, it becomes more complicated. Kodak used to publish a pamphlet "Color Separation and Masking," E-79, which gives good steb by step instructions. You may still be able to find it somewhere. The older color materials needed masks to correct for defects in the cyan and sometimes the magenta dyes. To correct for errors in the cyan, you expose the mask through a red (29) filter. Exposure and contrast controls can be tricky, but this used to be done routinely. In some cases, both contrast and color correction masks were required.