when it gets as tall as you would like pinch out the growing tip and the plant should bush out more.

Where exactly is the growing tip???

It's the top of you plant, where the new growth emerges.

I knew that!!! LOL

Do I do this every time new growth appears?

The plant should respond by putting out more growth down lower, should not
need cutting out the top of the plant very often. But as needed.

I agree with tropicbreezent, it needs stronger light, right now it appears to be stretching for light. Mine is on my screened in porch and gets a few hours of direct sun every afternoon.

Thanks for all the advice everybody. Could I put it outside for a couple of hours everyday? I have a skylight in my living room but no windows so light is limited.

Oh and how will I know how often it needs cutting? Im new to the rubber tree!!!

"how will I know how often it needs cutting?"
Not often. I would probably leave it alone this year. The skylight: does it let in
a good amount of light? Is there a spot the Plant could be under that without being in the way? As for outside, plants enjoy being outside for the summer.
You must be careful about strong sun light. The plant will sun burn just as you or I will if place in direct sun light. It is usually best to acclimate the plant to the conditions of a sheltered spot where the plant could stay for the summer. Such a location would be a covered porch or a garden plot out of full sun or rain.
Remember that the plant is inside most of the year (I'm assuming you will be
keeping it inside for the most part) So suddenly exposing it to outside conditions is stressful on it. So you want to slowly introduce it to the brighter
light, wind and other environmental factors. It will enjoy outside. Christine said
hers is on a screened porch, that would be I deal if you had that.

I found this on the web, hope it helps.
http://houseplants.about.com/od/foliageplants/p/Ficus-Elastica-growing-Rubber-Plant-Ficus-Indoors.htm

Ficus elastica—Growing Rubber Plant Ficus Indoors
By Jon VanZile
Houseplants Expert
Growing Conditions:

Light: F. elastica require bright, filtered light and can tolerate morning sun. Plants that are kept too dark will become leggy, lose their lower leaves, and the color will become dull instead of glossy and vibrant.
Water: Keep steadily moist; they are vulnerable to excessive dryness.
Soil: Any good, fast-draining potting soil will likely do.
Fertilizer: Feed with a weak liquid fertilizer throughout the growing season. They are relatively heavy feeders when healthy.
Grower's Tips:

As I mentioned, these are not particularly difficult plants. Successfully growing one generally means finding the right balance in your environment: light but not too light, moist but not wet, enough fertilizer to keep it healthy but not too much to encourage fast growth. Like other types of ficus, they are vulnerable to cool drafts. Plants that are suffering for whatever reason will become leggy, with stretching internodes, and the leaves might first turn yellow and then brown and then drop off entirely. F. elatica look their best when fully clothed with leaves, so take any leaf yellowing seriously (although once a leaf starts to yellow, it's most likely gone already). If the leaves look full and are drooping, your light levels are probably too high. Ficus elastica are vulnerable to pests including aphids, mealy bugs, mites, scale, and white fly. If possible, identify the infestation as early as possible and treat with the least toxic option.

The skylight lights up my whole living room. The plant is currently sitting on the table under the light. I'd really like to let it sit outside for a couple of hours each day though. I just put a English ivy out in a shady spot so if it doesnt burn then I'll put the ficus and probably a goldfish plant out with it.

If you put it outside in bright shade all day that will be WAY better than what it's getting inside and it will be sufficient for it to grow normally.

If you do want to give it direct sun though, after a week in bright shade you can start giving it an hour of direct sun every day for a week. Then add an hour the next week, and so on.

I'll probably put it out each morning. I can't keep it outside because I live in apartments. No real place to keep it.

I found a place to keep my rubber tree outside!!! She seems pretty happy. Its in a shaded but bright area!!!!

Grrrrr. I had her outside and some kids knocked her over. Smh. She's currently sitting in a wine glass with water til I can get a new pot.

Sorry about the broken pot. How is your plant?

Seems to be okay in the water. She wasn't damaged so thank God for that!!!

That is a shame. Kids playing and animals know how to upset plants.

Yea it sucks. Especially since they were throwing rocks at it. Smh.