No - re-do the last election. Why? Because we knew about the potential (and high probability) 0 was NOT born in the U.S. LOOOOOOOOOOOOONG before last November's election. It's not like 0 not being a U.S. citizen is breaking news or something, though to many it is, unfortunately.
Have a do-over with Hillary Clinton and Sarah Palin. It would be very close, but hopefully Palin would prevail.
If the President is impeached or ruled ineligible or incapacitated such that he could no longer serve or dies (i.e. taken out of office for ANY reason); then the VICE PRESIDENT serves out the remainder of his term.