They need to do away with the "power conferences." All D1 FBS teams need to be aligned geographically, forget these ridiculous alignments.
There are 128 FBS teams (pending UAB going defunct). Divide them up into 8 geographically aligned 16-team conferences. Each conference is divided into divisions, who all play each other. You can then have some cross-over games or inter-conference games. Each division puts its best team into the conference championship game, and each conference champion goes into an 8 team playoff.
Here's my rough groupings:
Northeast
1. Connecticut
2. Boston College
3. Syracuse
4. Pittsburgh
5. West Virginia
6. Penn State
7. Rutgers
8. Army
9. Navy
10. Buffalo
11. Massachusetts
12. Toledo
13. Kent State
14. Ohio
15. Temple
16. Cincinnati
Southeast
1. Alabama
2. Auburn
3. Florida
4. Florida State
5. Miami (FL)
6. UCF
7. South Florida
8. Georgia
9. Georgia Tech
10. Mississippi State
11. Ole Miss
12. Florida International
13. Florida Atlantic
14. Georgia Southern
15. South Alabama
16. Troy
Mid-Atlantic
1. Duke
2. North Carolina
3. North Carolina State
4. Wake Forest
5. Louisville
6. Kentucky
7. Virginia Tech
8. Virginia
9. Vanderbilt
10. Maryland
11. Appalachian State
12. Tennessee
13. South Carolina
14. Clemson
15. East Carolina
16. Georgia State
South Central
1. Baylor
2. Houston
3. LSU
4. Louisiana Tech
5. Louisiana - Lafayette
6. Louisiana - Monroe
7. North Texas
8. Rice
9. SMU
10. TCU
11. Texas
12. Texas A&M
13. Texas Tech
14. Texas State
15. UTSA
16. Tulane
Midwest
1. Akron
2. Bowling Green
3. Indiana
4. Central Michigan
5. Miami (OH)
6. Michigan
7. Michigan State
8. Ball State
9. Northwestern
10. Ohio
11. Ohio State
12. Purdue
13. Eastern Michigan
14. Illinois
15. Northern Illinois
16. Western Michigan
Central
1. Arkansas
2. Arkansas State
3. Middle Tennessee
4. UAB
5. Old Dominion
6. Southern Miss
7. Wisconsin
8. Missouri
9. Iowa
10. Iowa State
11. Notre Dame
12. Oklahoma
13. Oklahoma State
14. Tulsa
15. Memphis
16. Western Kentucky
Northwest
1. Washington
2. Washington State
3. Oregon
4. Oregon State
5. Idaho
6. Boise State
7. Nevada
8. Utah
9. Utah State
10. BYU
11. UNLV
12. Stanford
13. California
14. Wyoming
15. Minnesota
16. Nebraska
Southwest
1. Arizona
2. Arizona State
3. New Mexico
4. New Mexico State
5. USC
6. UCLA
7. San Diego State
8. UTEP
9. Colorado
10. Colorado State
11. Air Force
12. Nevada
13. UNLV
14. Hawaii
15. Fresno State
16. San Jose State
There will be conferences that are stronger than others, but I think it will create parity if the "lesser conferences" have a chance to get in the playoff by winning. Eventually good recruits will be divided up amongst the conferences pretty equally.