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Playoffs is the ONLY way to do it. Go 4 teams, winners play for the title. And make the 4 teams come from the winners of their respective Bowl Games (so in essence it's really an 8 team playoff).
This way the Bowl games are still huge for each school that play sin them then afterwards to declare a national champion 4 winners of the top bowl games play the first week of January after the Rose Bowl (or whatever is the last one) then the following week the winners play for the title.
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