If I recall correctly, Obeyme and Biden being ineligible would render the election null and void. I believe that it reads that the VP would fill in until someone who is eligible can be picked. Pelosi would only become CiC in the event of a disaster and not because of a false election outcome..
A relief, but can you imagine another election?
(maybe Fred Thompson could do a better job this time around...?)
Biden would be the next in command even if zer0 gets the boot. Biden can then pick who he wants as VP. Remeber after Nixon left, Ford picked out his VP until he got one not compromised like Agnew.