supposedly this is a noise from the control arm, which needs replacing ?

Is it dangerous if i DO NOT change this ? I put RTV around the so called cracked bushing....seems like for temp the popping went away, then it came back.

Would changing only the control arm be a good solution ? Also my rotor on that side is completely warped, so i do have vibration.

 

You will have to either replace the control arm or the bushing. RTV or silicon are not dense enough to hold up as you found out.

To keep the driving the car and ignore the problem is not really a good thing to do. Your wheel alignment is messed up and you will start to see wear on your tire. Plus, as the bushing wears out even more, the wheel will "wander" and all of a sudden the car will pull one way or the other, especially when you hit a bump or pothole.

If you have an oil leak, this will rot standard bushings especially if it is the power steering oil. Fix any oil leaks.