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I agree with Aordolin that probably the only feasible plan to expand the playoffs would be a four team system.

Everyone should keep in mind how that would further hurt NCAA's financial imbalance among teams and conferences. Right now you got lots of teams going to lots of different bowls with various payouts, and teams within a conference would share those revenues.

Even a two round four team system would damage that. You further shift the focus onto three specific games, and the two teams making the final game would have received two round of huge playoff payouts, and further distanced the financial standing of the conferences involved.

And there is no easy way to justify revenue sharing. If you ask those BCS conferences to share revenues from the playoffs to smaller conferences, they might as well scrap the BCS, and establish something like a four-conference playoff system to totally block out everyone else.