I tend to look out of confrerence since in confrerence games are a given. I'm sure USC would play Washington St 8 times if they could just to impress the computers much like LSU could beat Georgia 8 times to do the same.

Good luck to the tigers, most people I know will be rooting for them.
A simple playoff format is already there:
#4 Michigan vs #1 USC
#3 Oklahoma vs #2 LSU
Let the winners play each other