There's already a template in place for a college football playoff. It's called "every other Division of NCAA football", and they've been doing it for years.
Nobody will ever be happy with this system, no matter how big the playoff (which will never happen). With a single Championship game, the #3 team cries foul, if it's a 4 team playoff, the #5 team will cry foul, etc etc.
I do agree that this isn't really a matter for Congress or Obama to get bogged down with. They should focus on things like the economy, foreign policy, and a HUGE raise for our beloved Military. LOL