Given that iotl the last nonITALIAN pope was hadrian vi, around 1500?, Id guess that getting a French, Spanish or Austrian pope, even, would be tough, let alone an American one, north or south.
The most plausible idea might be the papacy fleeing rome, during a more successful 1848, where a united italy takes all of Rome. Or possibly during the French Revolution. The latter might provide the pope and cardinals impetus to flee Europe entirely. Then if a new conclave were held in eg Rio..... you might get a Latin American pope. But its pretty darned unlikely.
If the French Republic were so hostile to Catholocism that the pope thought he had to flee, weell, thered be a LOT less support for it, and the exile wouldnt likely be long enough to need a new pope.
How would you get enough cardinals in one place to elect a new pope?
What I could see is multiple antipopes, one of whom was Latin American, but he would surely not be considered the 'real' one.