A good idea, but the NFL is the biggest stumbling block. Any system that is held in the same week as NFL games will face, in my opinion, fierce opposition from the NFL. The NFL will not want to share any advertsing revenue with the NCAA. Add to that, and the NFl can say this is not the case, but gambling dollars will then be split with a playoff system.
The deal to have the NFL cooperate with the NCAA would have to be so good, that I wonder if it would at that point not benefit the the NCAA far less than hoped.
The NFL has the biggest contracts with networks of all the major sports. That means that any deal will have to go through the NFL. And I just can't see them agreeing to something that will cut into their revenue stream...
Two ways to combat that arguement. First, the NCAA can play a little hardball and threaten to go to a 16 game December format, that would directly compete with or limit the opportunity for NFL Saturday afternoon and Sunday night games. But the stronger hand is the fact that the NFL is not on NBC, so they would be glad to bid on these 3 playoff games. NBA might not be excited, but there would be no comparison in the viewership numbers. FOX and CBS might be loyal to the franchise, but ABC would also likely bid on the playoffs(a natural extension of their BCS monopoly and bowl dominance). NFL isn't gonna yank MNF, so at worst ABC loses two NFL wildcard games for 3 college football playoff games, a net $ plus for ABC.