For those worrying about a "runaway convention," the Convention could only propose amendments. Just like with amendment proposed by Congress, three-fourths of the States would have to ratify a proposal for it to become part of the Constitution.
“The federal government is in desperate need of reform. The only peaceful and realistic way of achieving reform is via an Article V Convention.”
I see things very differently, the mess we have now which our president is trying to rectify has been caused not by the constitution as written nearly so much as by the refusal of congress, the courts and certain presidents to even attempt to abide by the constitution. Changing the constitution under existing circumstances is much like having a physician write you a new prescription for a different medication for diabetes while claiming that the medicine he last prescribed does not help you and all the while overlooking the fact that you have not taken your prescribed medicine but have been eating cake and ice cream instead.
How do you propose to get a government which would not follow the current constitution to follow the new one? I might agree with your idea if it could be limited to repeal of existing amendments, excluding the bill of rights of course, but that cannot be done.