Here ya go. This is THE solution. There are now 117 teams. I would add 3 to get an even 120. Based upon population, some areas are underrepresented, such as the NE, California, and the ILL/MO/WI/MN area. Therefore, I would add UMass, Ill State (no diff than other MAC schools), and either UC-Davis or UC-Santa Barb. There would be 7 conferences of 10 each of the historically major colleges (national doctoral US News guide higher ranked schools or other schools with tradition), and the normal/commuter/smaller private schools would align into one big conference called the American Conference with 4 divisions of 12-13 each. That would yield 7 conference champs from the historically majors. Add two from the American conference and 3 at large. That would be a 12 team tournament. This would consume 11 bowls. The other 17 bowls could continue as exhibition games.
Historically Major Conferences, almost the same as the current BCS schools:
BE: UMass, UConn, Syr, Rut, MD, PSU, Pitt, WVU, ND, BC.
Big Ten: As is less PSU.
ACC: As will be next year less MD and BC.
SEC: As is less Ark, LSU.
Now is where it starts to get a little complicated.
Big 12: LSU, Tulane, MO, I St, KU, KSU, OK, Tx, TAM, Ark
Mtn W: TT, Baylor, Nw Mx, Col, OkSt, Col St, Utah, Wyom, Neb, BYU.
Pac 10: As is.
Pacific Div: (13) Hw, SDSU, Fres, San J, Santa Barb, Boise, Idaho, Nev, UNLV, Ut St, Air F, NM St., UTEP
South Div (12): TCU, SMU, Rice, Houston, Ark St, N. Tex, L Tech, L Monroe, L Laf, Tulsa, Troy, Mid Tn
Mid Div: (13) Kent, Miami, BG, Toledo, EMU, CMU, WMU, BSU, NIU, ISU, Akron, Ohio, Marshall
USA Div (12): Cin, Lou, Temple, Buff, USF, UCF, Army, Navy, UAB, Mem, ECU, USM