This is basically the only playoff I would want to see. Leave everything as it is, but use the 4 BCS bowls as a mini-playoff. You'd have your 6 conference champions, and 2 at larges. Then, you eliminate the specific tie ins, and just seed those 8 teams. This year it would look something like:
1) Auburn v. 8) UConn
2) Oregon v. 7) Va Tech
3) TCU v. 6) Oklahoma
4) Wisconsin v. 5) Stanford
The winners of those 4 games would play a semi-final, and the winners of those 2 games play for the whole thing. It's sort of like the NFL where you win your division (conference) your in, and the at-large are like the wild cards. Just like the NFL, you're wild card might actually be better than some of the other conference champs (as Stanford and TCU have shown), but that's the way it goes. They'd still get a shot.