I think that's an interesting solution. The SEC does something similar to this idea with the unofficial SEC-SoCon Challenge, where a ton of SEC teams play a team from the Southern Conference late in the year (usually before rivalry week). This helps inflate their records and gives them an extra bye week. The big problem is getting other conferences/schools on board with the idea. Typically, the only non-conference games you see late in the year either involve Notre Dame or a rivalry game outside of the conference (think Georgia/GT and Clemson/South Carolina for examples here).

I think one of the biggest roadblocks will be getting schools to agree to earlier kickoffs. Most schools are against an early kickoff out of principle, with the earliest usually being something like a noon PST kickoff, with most going later in the day. The conference should look at adding a weekly game in that first kickoff window, with the ability to flex a low to mid-tier game into the slot. Then work to have your biggest games kick off in that 5 PM primetime slot, throw a low tier game at 7, and run more games at 2:30/3:00 PM. Doing something like this would involve getting a better deal from a TV network, and perhaps one of the best options is to partner with CBS now that they've lost the SEC.