Thinking outside the box here....
A good deal of the problems we see in elite-level athletics today has to do with money. Whereas the NCAA is supposed to be a membership driven non-profit, in reality is a money driven media content organization with serious anti-trust issues. How would we go about negating the influence of "money for content" and yet not cripple the budgets of the elite-level programs?
Where does the money come from? The so called "Big Dance".
How to separate the Big Dance money from the NCAA? Go back to making it a 3rd party sponsored Invitational, like the NIT was in the late 30s. The tournament could invite anyone it wanted to invite, including the occasional D2 or even a Canadian team if it seemed worthy.
The NCAA could go back to simply being a membership driven non-profit regulating the programs of its members.
The Elite programs would still make money, via payouts from the tournament organization. In fact, they would likely make more, because it wouldn't have to be shared with schools from the other divisions.
The pressure to move into Division 1 would decrease substantially. Right now, the pull of D1 is money and exposure, even if you are a losing program. With the money flowing only to tournament worthy "winners", which division you are in wouldn't matter so much.
Each Division (including D1) would still have its own tournament, but the Elites would be elsewhere. So there would still be ample post season opportunities AND some broadcast money, it just wouldn't be enough to drive policy.
Food for thought