Term limits would neuter this oligopoly...permanently.
Won't work. You are focusing COMPLETELY on the wrong thing. Changing the profs won't change the oligopoly that the schools have with state legislatures and federal student aid. It's the AID that allows schools to jack up tuitions. (BTW, not complaining, but the faculty only gets 3% of tuition increases, according to Richard Vedder's book, "Going Broke by Degree.") Vedder is a great place to start to understand the dynamic of why colleges will NOT be overturned by anything on the horizon right now. It will take a true educational revolution.