Well, I must say I'm a bit confused - since when can TIFs have layers?
Let's back this all up a bit. You say you want to print this in 2 colors, but then you mention 3 colors: "black, white, and red."
Duotones (or monotones, tritones, quadtones) as I understand them (and I make no claims at being the supreme font of knowledge here) would be where you're specifying the color range to be made up of two specific Pantone colors. Say I wanted a "warmish" photo. I'd change my color mode of my photo from 24-bit RGB to Duotone (which is 8-bit, BTW) and select Pantone Process Black and Pantone Warm Gray 8 as my two colors - of course you would tweak the tone curve of the two colors to whatever you like.
This would then be saved off as either an EPS or a DCS (desktop color separation) file - ask your printer which one they need.
Of course you could choose other color swatches, too, but these colors are applied to the entire photo, not specific areas. Duotones are usually used when you're printing in a publication that has been limited to two specific spot colors. "White" is not a color in these instances, it's an illusion. The shading is achieved by various percentages of the ink values. Pantone 1585C is a somewhat "pumpkiny" orange color at its full 100% value. But if I wanted to place text in a photo that had was using this as its color base and I needed the text as "white", I could not use "white" as a color for the text as that would make the color separators think I was printing in CMYK plus a spot color and thereby increasing my print costs. So what you would do is to create your text and use the color 1585C *but* mark it as using 0%, which would essentially be white.
So.... if you really are trying to print a duotone where you have a background as one PMS (Pantone Matching System) color and a separate object as a second PMS color, what you'll probably need to do is have two separate files. One file will be your "background" file with an area cut out (clipping path/alpha mask) where your feather will be, the other file will be your "feather" with the background cut out/alpha masked out. Each file will need to be exactly the same size. Double-check with your printer again, because if it is a real duotone, I do believe it will have to be an EPS or DCS file format and not TIF.
I hope this is what you were meaning by "duotone" and I've not just rambled on incessently