I like your creative thinking but I have two comments:
Football conferences don’t have “tournaments”. They have conference championship games if/when they get to 12 schools.
As weird as it sounds to have TCU in the Big East, it will sound even worse to say that they are in the West Division of the Big East. Kinda of like when the Atlanta Braves were in the West Division of the NFL and National League, respectively.
I’m also not sure how Syracuse will feel being left out of the “old school” East Division of your realignment but almost every time they split up a league, somebody is unhappy with it.
My guess is that Syracuse and Pittsburgh will be glad to play against all the big schools of the Central Division (or whatever you want to call it). Huge schools in huge TV markets ought to keep the attendance figures up... and I would expect Syracuse could get matched up with UConn, Villanova, Georgetown, and St. John’s for some of their 6 out-of-division games. (They probably won’t mind missing out on Providence or Seton Hall, who would likely play DePaul and Marquette instead.)
As for the Western Division, maybe we could call the divisions “Atlantic,” “Eastern” and “Midwestern?” How would you feel about a “Midwestern” Division in Ft. Worth, Cincinnati, Louisville, Chicago, Milwaukee and Indiana?