Tried and failed. Time to give up on that strategy.
2. Work together to take control of the GOP and it’s resources and change the direction of the Party.
That's the Tea Party option. The GOPe is fighting it like a rabid, rogue elephant. They hate the people, especially those who want to separate the GOPe from the food trough of government power. It is coming close to the time to see that the patient doesn't want to be cured.
3. Leave and form a third party which will take years to develop sufficient size, scope, and resources to be able to have significant impact.
Unfortunately that will basically guarantee the Democrat's ascendance for a few years, much as the Democrats were in charge while the Whigs were thrashing out their death throes in the 1850s.
2 will be the easiest path, but even if the Tea Party takes over there will always be a poisonous Rovian core in the rebuilt GOP. 3 would be better but it is by far the harder path because the Democrats will get overwhelming control of the presidency and both houses of Congress for a while. I wish I had the wisdom to decide whether 2 or 3 will be the best. Maybe if a charismatic GOP leader publicly denounced the party and struck out on his own it would make number 3 far easier and shorter.
As I see it, the socialists already have control of government and are doing whatever they want regardless of the constitution or the law. So the sooner options 3 starts the sooner something might actually change.