Clearly all speculation, but its fun!
I never thought about that either, but I suppose they could! I would imagine that Notre Dame would want to keep their conference on the smaller side (like 8-9 members) so they could have their 4-5 nonconference games against their other rivals.
Immediately coming to mind as their first invite would be Navy. They have a huge rivalry and Navy could get out of whatever contract they have with the American fairly easily. I think BYU would be extended an invite which they would accept.
After Navy and BYU, I can't say for sure who I think would get invited and accept the invitation. Other schools I believe would get an invitation: Stanford, USC, Texas, Oklahoma,, Purdue, Northwestern, Michigan, Michigan St, Pittsburgh, Boston College, Miami FL, and Georgia Tech.
I know there would be GoR issues but...I believe Texas would join and Oklahoma would follow making it a 5 team conference. I believe Stanford/USC would stay put in the PAC, but would remain annual rivals with Notre Dame. I think all 5 B1G schools stay put as well. I could see all 4 ACC schools heading to the new conference (and the ACC breaking up with 2 schools headed to the B1G and 2 schools to the SEC). The conference would now be at 9. I can't see the conference getting larger than this. Notre Dame wouldn't to share the pie with too many schools and they would want to have those 4 nonconference games. If any of these schools declined, I could see Army being on the short list.
[/u]"New Power Conference"[/u]