I wouldn't encourage it. If McClintock challenges Schwarzenegger, the CAGOP will move heaven and earth to sabotage his campaign and work tirelessly to defeat him in his net try for office. They would be vicious.
It's one thing to face an honest opponent and yet another to campaign while covering your 6 against attack from partisan extremists from within your own party.
At this point, we have no assurances that the party establishment will not sandbag McClintock in his run for Lieutenant-Governor (and looking at the Politics1 website, it looks like they may get behind Carly Fiorina, the former Hewlett-Packard CEO).
Also, too, what are our chances for holding the Secretary of State's office with the incumbent-appointee RINO McPherson ? I'd at least concede having McPherson presiding over the elections agency is better than the corrupt Kevin Shelley.
"If McClintock challenges Schwarzenegger".... THEN a DEMOCRAT, ANY DEMOCRAT will be a shoo-in, which is what you really want. So stop pretending to be a conservative when all you are trying to do is to "divide and conquer" by splitting the conservatives, to give a clear field to the Democrats.