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Most certainly, if you bring another sorority to campus under your present circumstances, you will force the smallest of your groups to close. Obviously if that smallest group could get to chapter total by COB they would have already done that. Granted, that in itself is a problem and perhaps it is not unreasonable to say "you have a year to get things straightened out and then we are going ahead with expansion".
I don't see how one new sorority on campus is going to do much to help your larger groups downsize, which seems to be one of the goals. If that truly is what you want, why would the larger groups be opposed to some sort of "cap" on chapter total? I believe you are correct, that all groups have the RIGHT to take quota regardless of how many member they have, but you have said that the large groups feel they are too large and want another sorority on campus so that quota will not be as high (or did I misread this?)
Finally, all of your sororities need to remember that when one group falls, someone takes their place on the bottom. That is why it is so important to take care of each other and do everything that you can to ensure the success of your Panhellenic as a whole.
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