There has been some talk of the BCS only handling the title game after 2013. No more guarantees of a big payday for teams of the WAC,MWC,sunbelt,conference USA even if they are ranked in the top 10,5 whatever.
So, I say have a "NIT" type of playoff with teams from the non "major conferences.(that would include the big east) the champions from these conferences would have automatic bid. The top 4 seeds would have a bye. Eight teams would play in the first round to play these four. And so on till you had two playing for a champion.
I think teams from these conferences could make more money having home games than playing in bowl games there fans won't travel to, for an amount of money that barely makes them a profit,if at all. Just a thought.