It would go to Biden...temporarily...Then what??
Then it goes to whomever the Congress decides. My guess Hillary.
That’s now how I read it. It looks to me like Dick Cheney becomes President temporarily, until Congress chooses a replacement.
"If, at the time fixed for the beginning of the term of the President, the President elect shall have died, the Vice President elect shall become President. If a President shall not have been chosen before the time fixed for the beginning of his term, or if the President elect shall have failed to qualify, then the Vice President elect shall act as President until a President shall have qualified."
It would go to Biden, period. If Obama cannot qualify then it's the same as if he had died. Biden becomes president.