I think success in starting a new party would be a function of three things:
1) Credible leadership. Rush COULD provide that.
2) Marketing and branding.
3) MONEY. Let me say that again, for emphasis: MONEY
2), Marketing and Branding, is IMO very important. If you call it the “Constitution” party or the “Freedom” party or somesuch, you will firmly be associated in the publics’ mind with nutcases in a compound in Idaho with .50 cal weapons embedded in rock walls who don’t pay their taxes. (Not that I’m all that opposed to such, but it won’t sell.)
Call it instead, something with Republic in it. Like the “NEW Republican” party. And brand it with Ronald Reagan right there in the logo! (You can change it later).
Third, get the MONEY flowing. Find a couple angels with lots of dough, but also get you some youngish but very conservative web-machine-engineers to replicate that Obama money machine.
Just my $.02
Sounds like Ross Perot. Gave us Clinton. No thanks.