The recent research on reliable data dissemination techniques vehicular ad hoc networks (VANETs) motivates for a stable VANET clustering algorithm. However, considering topology dynamics and the high mobility of vehicles, it's not easy to make the network connected in a restricted delay. In this paper, we develop an enhanced clustering algorithm to form stable clusters for delay-bounded applications (car crash alert, dangerous zone advertisement, etc.) on highway scenarios. Because these applications can't support long cluster formation process, our scheme aims to minimize both the cluster head election and the cluster member selection durations. To achieve this goal, the network partition is initially done by the slowest vehicle in order to accelerate the cluster formation. Then, a multi-metric waiting time function is implemented to select the cluster head. It takes as parameters speed difference and relative distance between neighboring nodes. Finally, we add a switching mechanism which allows for choosing a new substitute cluster head when the current cluster head risks leaving the cluster. This effectively enhances cluster lifetime and reduces frequent re-clustering in high speed scenarios. Simulation results confirm that our technique enables formation of long living and stable clusters in a reduced delay.