All O.U. has to do is contact SAE (Sigma Alpha Epsilon) Nationals to put this to rest. Nationals can permanently suspend a chapter at a university, and there is NOTHING the chapter can do about it.
For the record free speech means the Government can’t put you in jail for political speech they do not like.
Although every school, work place and organization have a code of conduct.
If you say things that could financially jeopardize or physically threaten a school, a business, an organization... then the school, work place and organization have the right to get rid of you.
SAE does not have a prayer and the lawsuit will only make things worse.
There is way more to "Free Speech" than whether the government imprisons you.
Under your definition, the case against the IRS for unfair actions against conservative organizations is groundless, since Lois Lerner didn't actually throw the leaders in jail.
I fear I might be get tagged for defending the actions or the fraternity students, and I'm not. But I also believe that if the government gets to punish people for saying things that are unpopular in the mainstream, we might as well call it a day as far as the Constitution goes.