I know this is overly simplistic but it does take into account Conference Champions and rankings. It also sets the table a little bit earlier in that every team would know what they are playing for and more specifically, which seed. Here are the rules:
1. You must be a Conference Champ
2. Highest rated Conference based on rankings, determines seed in CFP (average)
2B. Rankings of teams playing in CCG are considered. All other conference rankings are not
3. If 2 conferences are tied in average of teams playing in CCG, The highest ranked Conference Champ winner is in
Based on current rankings it would look like this:
Georgia (1) vs Alabama (8) is a average 4.5. Winner gets #1 seed
Washington(4) vs Oregon(6) is a average 5. Winner gets #2 seed
Florida State (5) vs Louisville(10) is a average 7.5. Winner gets #3 seed
It gets interesting with the B10 and Big 12 as both conferences average 10.
B10 - Michigan(3) vs Iowa(17)
Big 12 - Texas (7) vs Oklahoma(13)
In this scenario it stinks for Iowa b/c even if they win, there is no chance they would get the #4 seed. However, every fair minded American knows they don't deserve to make it anyway. Michigan likely makes it in as the #4 seed only because the B10 refuses to have the top two teams play for a conference championship.
I prefer this approach for a number of reasons.
1. It is straight forward. College football fans want to see the best conferences represented and they get it
2. It would push conferences to eliminate the West/East and North/South divisions for who makes their CCG. They will now focus on sending their top two teams which is how it should be.
As an aside, I understand this is a pipe dream especially considering the new format for next year. To that end, I still believe it should be a tournament of champions no matter what conference you play in. I would love to see the Cinderella's like Oregon State (where ever they end up), Tulane, JMU, etc. have a shot at it.