If Obama wins the Electoral College but loses the popular vote (as Bush did in 2000), this tomfoolery will die faster than a fruit fly. Of course, if this concept had been in place in 2000, they might STILL be counting the votes. The only way this would ever work would be if they required a true majority of the popular vote to win - not a plurality - with run offs eliminating the minor candidates.
This is an end-run around the Constitution. In order to have the system you suggest, the Constitution would have to be amended. In effect, it is undermining the concept of federalism.
Bingo! We have a winner!!
Oh come now. Then BillyBob Clintoon wouldn’t have ascended the throne.