It will never happen because of contracts, history, etc. But I really wish this could happen.
Turn all conferences into regions. Northeast, Southeast, Northwest, and Southwest. NEC, SEC, NWC, and SWC.
The winner of each conference heads into the 4 team playoff. That fixes the 1 conference playing in the NC game. I also fixes would will happen now with 1 conference having 2 or 3 teams in the 4 team playoff.
Following that model, I would guess the 4 team playoff this year being:
Oregon from the NWC.
Notre Dame from the NEC.
Alabama from the SEC.
Stanford from the SWC.
The winner of ND/Stanford plays the winner of Bama/Oregon.
The rest of the conferences have set bowl games, like they have now. It depends on where you rank in your conference.
I can dream can't I?